Grobina: JSC "Grobina" 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. 

         JSC "Grobina"
         Chairman of the Board
         Gundars Jaunsleinis

Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=682062