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Thursday, 18.04.2024, 01:57
SAF Tehnika Group posts EUR 215,000 unaudited loss for last FY
“Fluctuations in turnover depend on the growing %age of
projects, replacement of equipment generations and product portfolio auditing,
especially in segments of standard equipment,” SAF Tehnika management said in the report.
The group’s costs did not exceed the planned levels but were
generally higher than during the same period a year ago due to investments in
the development of new products that are expected to enter the market in the
coming fiscal year.
“The goal of the Company is to stabilize sales levels to
ensure a positive net result in the long term. The Board of SAF Tehnika maintains cautious optimism
but cannot provide certain prognosis for sales figures and operational
results,” the management said.
During the previous fiscal year which lasted from July 1,
2016 to June 30, 2017, SAF Tehnika turned
over EUR 17.043 mln and made a EUR 1.747 mln profit.
SAF Tehnika Group
comprises Latvia’s SAF Tehnika, as
well as US-registered companies SAF North
America LLC and SAF Services LLC. SAF Tehnika shares are quoted on the
Nasdaq Riga Main List.