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Thursday, 18.04.2024, 01:31
Latvian Olainfarm to invest EUR 11.42 in development
The company's shareholders are to discuss the matter during the annual general meeting of shareholders in June.
The meeting will review a board report on the budget and operational plan for 2015. The plan also includes the company's unconsolidated turnover forecast for 2015 in the amount of EUR 87 million, unconsolidated profit forecast – EUR 14 million, consolidated turnover forecast – EUR 100 million, and profit consolidated profit forecast – EUR 15 million.
The company is to elect Ernst & Young Baltic as the certified auditor of Olainfarm for 2015. The total remuneration of the certified auditor for 2015 will be EUR 42,450.
The total number of Olainfarm shares is 14,085,078.
As reported, due to the falling ruble, as well as fluctuations of other foreign currencies, the Latvian pharmaceuticals company Olainfarm suffered losses in the amount of EUR 4.5 million last year.
Last year, the company's consolidated profit reached EUR 12.2 million, while unconsolidated profit exceeded EUR 11.4 million. The company had projected its 2014 consolidated profit to reach EUR 15 million, and unconsolidated profit – EUR 14 million.