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Thursday, 28.03.2024, 11:05
SAF Tehnika posts EUR 389,400 profit for Q1
SAF Tehnika said that 62.3% of the quarterly turnover or EUR 2.443 million were made
up by sales in North/Latin Americas. The region's result is down 7% compared to
the first quarter in the last financial year.
The group's turnover in the European and CIS region accounted for 30.1% of
total turnover or EUR 1.183 million, which is a 15.9% rise year-on-year.
In the AMEA (Asia, Middle East, Africa) region, the turnover was at 7.6% of
total turnover or EUR 297,400, representing an increase by 87% from the first
quarter of the last financial year.
The management said that the USD/EUR exchange rate had had a negative
effect on the group's net results in the first quarter of the current financial
year.
In the first quarter of the previous financial year or from July 1 to
September 30, 2016, SAF Tehnika group
reported a turnover of EUR 3.819 million and a profit of EUR 401,100.
SAF Tehnika Group comprises Latvia's SAF Tehnika
and the US-registered companies SAF North America LLC and SAF Services LLC.
SAF Tehnika is quoted on the Main List of the Nasdaq Riga stock exchange.