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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 11:05

SAF Tehnika posts EUR 389,400 profit for Q1

BC, Riga, 08.11.2017.Print version
Latvia's SAF Tehnika telecommunications equipment group generated EUR 3.923 million in turnover in the first quarter of its current financial year from July 1 to September 30, 2017, up 2.7% from the same period in the previous financial year, but the group's profit fell 2.9% to EUR 389,400, writes LETA, according to the interim financial statements submitted to the Nasdaq Riga stock exchange.

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.






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