Financial Statement Release
JSC "Grobina" unaudited financial report of first 6 months, 2018
Dubeni, Grobina parish, Grobina district, LV-3438, Latvia, 2018-08-31 12:17 CEST (GLOBE NEWSWIRE) --
The company’s net turnover of first 6 months of 2018 is 1 486 386 EUR. In this period in Canadian auction house NAFA there were realised 67 503 mink skins, in result net turnover of 1st six months of 2018 comparing with the same period of the year 2017 is decreased, because in 2017 first six months there were realised 98 801 mink skins.
In the year 2017 the management of JSC “Grobina” agreed with Canadian auction house NAFA about granting of financing for mink kits fattening in the year 2017, this allowed to the company to provide normal economic activity in accordance with Legal Protection proceedings plan of auction. With Liepaja courts’ 29th of March 2018 decision there were approved amendments in JSC “Grobina” Legal protection proceedings plan of auction, thereby the term of Legal protection proceeding is prolonged up 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 the years 2018 and 2019, incl. about granting of financing for mink kits fattening in these next 2 seasons, this allowed to JSC “Grobina” to increase the breeding herd in 2018 almost for 50%, accordingly allowing to the company significantly increase production volumes starting already from the year 2018.
chairman of the board