In February OlainFarm Makes Sales of 3.5 Million Lats

OREANDA-NEWS. Preliminary consolidated results of AS “OlainFarm” for February 2013 show that sales of the company reached 3.49 million lats (4.97 million euros). The biggest sales increases were achieved in Kyrgyzstan, where sales grew by 240%, and in Belarus where sales grew by 123%. Major sales markets of AS “OlainFarm” in February of 2013 were Russia, Latvia and Belarus.

During the first two months of 2013 according to preliminary consolidated results, the sales have reached 8.96 million lats (12.75 million euro), which represents an increase by 18%, compared to similar period of 2012. The most rapid increases in sales during the first two months were achieved in Belarus, where sales grew by 117%, sales to Russia grew by 55%, sales to the UK grew by 51% and sales to Kyrgyzstan grew by 29%. Major sales market of AS “OlainFarm” during the first two months of 2013 were Russia, Latvia Belarus, Ukraine and the UK.

Sales of pharmacies owned by AS “OlainFarm” during February 2013 were 0.7 million lats (0.99 million euro). Sales of these pharmacies during two months of 2013 were 1.44 million lats (2.05 million euro).

According to unconsolidated preliminary results sales of AS “OlainFarm” during February of 2013 were 2.95 million lats (4.2 million euro). The most rapid sales increases were achieved to Kyrgyzstan, where sales grew by 240%, to Belarus, where sales grew by 123% and Latvia, where sales have grown by 61%. According to unconsolidated results the major sales markets of AS “OlainFarm” in February 2013 were Russia, Belarus, Latvia and the UK.

During two months of 2013, according to preliminary unconsolidated results, sales of have reached 7.87 million lats (11.2 million euro), which represents an increase by 19% compared to similar period of 2012. The most rapid sales increases during these two months have been achieved in Belarus and Latvia, where sales have more than doubled. According to preliminary unconsolidated results major sales markets of AS “OlainFarm” during two months of 2013 were Russia, Latvia, Belarus, Ukraine and the UK.

Although no sales targets for 2013 are formally approved yet, for planning purposes management is using the target of 50 million lats (71.1 million euros) for unconsolidated sales and 57 million lats (81.1 million euros) for consolidated sales. According to these preliminary results, during the first two months of 2013 the company has made 15.7% of both, unconsolidated and consolidated annual sales target.

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.