Interim report (Q1 and Q3)
CORRECTION: JSC "Grobiņa" 2018 1st quarter financial report
Dubeni, Grobina parish, Grobina district, LV-3438, Latvia, 2018-06-04 15:14 CEST (GLOBE NEWSWIRE) --
The company’s net turnover of first 3 months of 2018 is 349 050 EUR in this period in Canadian auction house NAFA there were realised 14 307 mink skins at an average price of 24,28 EUR / pcs , in result net turnover of 1st quarter of 2018 is decreased for 83%, comparing with net turnover of 1st quarter of 2017, because in 2017 first 3 months there were realised 68 977 mink skins for average price 30,16 EUR / pcs.
In the year 2017 the management of JSC “Grobina” agreed with Canadian auction house NAFA about allocation of financing of mink kits fattening in the year 2017, this allowed to company to provide normal economic activity in accordance with Legal Protection proceedings auction plan. With Liepaja court decision from 29th of March 2018 there are approved amendments in JSC “Grobina” Legal protection proceedings auction plan, thereby the term of Legal protection proceeding is prolonged to 30th of June, 2020. In January 2018 and in April 2018 the management of JSC :Grobina” has signed contracts with Canadian auction house NAFA about cooperation in years 2018 and 2019, incl. about allocation of financing of mink kits fattening in these next 2 seasons, this allowed to JSC “Grobina” to increase the breeding herd almost for 50%, accordingly allowing to company significantly increase production volumes starting already from the year 2018.
Correction: in financial report there is added Statement of Management Responsibility (page No 3).
Chairman of the Board