The main activities of the Company in 2016 were logging and production of timber products: peeled and machine rounded poles production in timber processing unit.
The result for 9 month of the year 2016 is profits EUR 60 046 which, corresponds to EUR 0. 1210 profits per share.
During 9 month of the year 145101 m3 poles were produced in the timber processing unit and woodchips of 35 786 m3 were sold.
Total revenues for the Company during 9 month of year 2016 were 2 381 239 EUR . This compared to 2015 is about 18.35 % lower, but gross profit is about 14.14% higher.
The demand for products to England is positive.
| 2016 | 2015 | ||
| Note | EUR | EUR | |
| Neto revenues | 2 | 2 381 239 | 2 916 310 |
| Costs of goods sold | 3 | (2 248 797) | (2 796 448) |
| Gross result | 132 442 | 119 862 | |
| Administration expenses | 4 | (57 924) | (56 977) |
| Other operating income | 5 | 2 348 | 4 |
| Other operating expenses | 6 | (9 281) | (8 572) |
| Financial income | 7 | 2 059 | |
| Financial expenses | 8 | (6 282) | (2 528) |
| Profit (loss) before taxes | 61 303 | 53 848 | |
| Deffered corporate income tax | 9; 19 | ||
| Other taxes | 18 | (1 257) | (1 243) |
| Net profit (loss) | 60 046 | 52 605 |
In the future the Company plans to continue the production of peeled and turn poles, increasing the proportion of timber purchased from small logging companies and private loggers, whose price offering is lower than that of VAS Latvijas valsts meži. It is also planned to sell the produced goods to a wider network of clients, achieving the most beneficial sales price.
Please find attached Financial Report of 9 month 2016.
Chairman of the Board
Talsu mezrupnieciba, JSC
Gatis Staks,
Mob.ph. +371 265 388 94
e-mail: gatis@tmr.lv
