Published: 2012-05-14 07:17:16 CEST
Olainfarm
Company Announcement

“Olainfarm” plans to increase dividends, strengthens its product portfolio in export markets

AS “Olainfarm” is currently finishing registration of capsules of “Noofen” in Russia, plans to start selling capsules of “Olvazol” in Ukraine in September and has started the registration of “Neiromidin” in China, Chairman of the Board Mr Valerijs Maligins told in his interview to portal naudaslietas.lv. AS “Olainfarm” plans to gradually increase share of profit payable in dividends, so that in more distant future it might be as high as 90% of profit.

Olaine, May 13, 2012, 2012-05-14 07:17 CEST -- “More significant growth in the future could be achieved if we through share issues purchase new companies,” says Valerijs Maligins, Chairman of the Board of AS “Olainfarm”. “In order to keep all financial options open, “Olainfarm” has to be attractive for investors, therefore we will gradually increase the portion of profit to be paid in dividends.”  

At the moment most of company’s profit is being reinvested into the company, for instance, soon the cogeneration project will commence.  Possibility of purchasing other producers of pharmaceuticals, herbal medicines or elastic bandages is also not ruled out.  

Currently AS “Olainfarm” is finishing the registration of capsules of “Noofen” in Russia.  According to company’s forecasts, in 5-6 years volume of sales of “Noofen” to Russia could reach 6 million euros.

Sales forecasts of AS „Olainfarm” for 2012 provides that unconsolidated sales will reach 40 million lats (56.9 million euros), but consolidated sales will be as high as 47 million lats (66.9 million euro). 

 

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 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.  

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm