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Olainfarm Plans to Increase Dividends, Strengthens its Product Portfolio in Export Markets

on May 13, 2012

JSC Olainfarm is currently finishing registration of capsules of “Noofen” in Russia, plans to start selling capsules of “Olvazol” in Ukraine in September and has started the registration of “Neiromidin” in China, Chairman of the Board Mr Valerijs Maligins told in his interview to portal naudaslietas.lv. JSC Olainfarm plans to gradually increase share of profit payable in dividends, so that in more distant future it might be as high as 90% of profit.

“More significant growth in the future could be achieved if we through share issues purchase new companies,” says Valerijs Maligins, Chairman of the Board of JSC Olainfarm. “In order to keep all financial options open, Olainfarm has to be attractive for investors, therefore we will gradually increase the portion of profit to be paid in dividends.”

At the moment most of company’s profit is being reinvested into the company, for instance, soon the cogeneration project will commence. Possibility of purchasing other producers of pharmaceuticals, herbal medicines or elastic bandages is also not ruled out.

Currently JSC Olainfarm is finishing the registration of capsules of “Noofen” in Russia. According to company’s forecasts, in 5-6 years volume of sales of “Noofen” to Russia could reach 6 million euros.

Sales forecasts of JSC Olainfarm for 2012 provides that unconsolidated sales will reach 40 million lats (56.9 million euros), but consolidated sales will be as high as 47 million lats (66.9 million euro).

 

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

 

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