Net cash flow/turnover of the joint venture within twelve months of 2016 reached EUR 1 297 712 that is higher by 14 % in comparison with the last period reported. Despite the growth of net turnover, at the end of the reporting period the management board has executed also cost saving measures, thus, as the result the company concluded the year with audited profit of 304 985 EUR. Diference between audited and not audited financial statement profit occur due to changes in Latvian law on Annual Reports and Consolidated Annual Reports as it is necessary to cancel revaluation reserve and record i in profit and loss calculation.
The Management Board of JSC VEF.
Attachments : JSC VEF financial statements 2016.12 ( audited ).
Independent Auditors Report.
Corporate Governance Report for year 2016.
Additional information :
Tamara Kampane,
kampane@vef.apollo.lv
