AS MADARA COSMETICS Reports Successful Third Quarter
Inside information, 2019-11-14 07:55 CET --
The consolidated (unaudited) turnover of the Company in the 3rd quarter amounted to EUR 2 675 thousand, which is 16% higher compared to the same period last year. Accordingly, during the first 9 months of this financial year, the consolidated turnover reached EUR 8 266 thousand, which is almost 19% more than in the corresponding period of 2018.
In the third quarter of this financial year, sales volume in Latvia increased by 5% y-o-y; sales volume in the European Union (excluding Latvia) increased by around 22% y-o-y; sales outside the European Union increased by 5% y-o-y.
The third quarter was strategically important for the Company. On September 26, the Company launched makeup product line and expects positive effect on the financial indicators in the next periods.
The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.
The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.
MADARA Cosmetics, founded in 2006, is the local pioneer in the field of natural cosmetics. In 2016 and 2017 the company and its managers were ranked among the top-10 Most Admired Business Leaders in Latvia. MADARA develops and manufactures all products exclusively at its own laboratories and facilities to ensure 100% control over processes. Further evidence of its passion for quality and perfection in every detail are the company’s ECOCERT organic certification, GMP (ISO 22716:2007) standard, and in vitro and in vivo research. For more information, visit madaracosmetics.lv/investors/.
Address: 131 Zeltiņu Street, Mārupe district, Mārupe, LV 2167, Latvia
Contact person: Uldis Iltners, member of the Management Board
Phone: +371 67 470 243
AS “LHV Pank”
Contact person: Ivars Bergmanis
Phone: +372 680 2720