OREANDA-NEWS. August 27, 2015. The main activities of the Company in 2015 were logging and production of timber products: peeled and turn poles production in timber processing unit.

In 2015 the net turnover was EUR 1 877 472.

During 6 month of the year 10 907.- m3 poles were produced in the timber processing unit and woodchips of   26 343.-m3 were sold.

Total revenues for the Company during 6 month of year 2015 were EUR 1 877 472.

Revenues from sale of fixed assets EUR 0.00.

The result for 6 month of the year 2015 is profits EUR 67 220, which corresponds to EUR 0.1356  profits per share.

 

        2014 2013
  Note     EUR EUR
Revenues 2     1 877 472 1 388 722
Cost of goods sold 3              (1 766 775)          (1 268 189)
Gross result       110 697 120 533
Administration expenses 4                (34 825)            (29 122)
Other operating income 5                      4 18 579
Other operating expenses 6                  (7 606)              (7 117)
Fiancial income 7                      2 005 429
Financial expenses 8                     (1 812)              (1 746)
Profit (loss) before taxes                   68 463 101 556
Deferred corporate income tax 9; 18                     -                       -
Other taxes 17                     (1 243)                 (1 243)
Net profit (loss)              67 220 100 313

In the future the Company plans to continue the production of peeled and turn poles, increasing the proportion of timber purchased from small logging companies and private loggers, whose price offering is lower than that of VAS Latvijas valsts me?i. It is also planned to sell the produced goods to a wider network of clients, achieving the most beneficial sales price.