RAKVERE LIHAKOMBINAAT

COMMENTARY TO THE FINANCIAL RESULTS

 

CONSOLIDATED FINANCIAL RESULTS 09/99

 

The 9-months consolidated net sales of AS Rakvere Lihakombinaat 

totaled EEK 549.3 million (EEK 664.3 million during 9-months of 

1998); consolidated net profit was EEK 15.1 million.

 

The parent company's unconsolidated net sales stood at EEK 401.2 

million (EEK 572.3 million during the respective period 1998) and 

net profit was EEK 21.9 million.

 

The 9-m results of AS Rakvere Lihakombinaat subsidiaries:

			     Turnover (EEK mln)	Profit (EEK mln)

AS Rigas Miesnieks			 174.1		- 4.3

AS Ekseko				  68.7		- 5.5

AS Linnulihatooted			  22.2		  0.5

AS Rigas Miesnieks Trading		 163.6		  0.3

AS Rakveres Mesos Produktai Vilnius       30.8		  1.7

 

Decline in AS Rakvere Lihakombinaat group turnover on annual basis 

was mainly due to decrease in exports to Ukraine and Russia, and 

70% customs tariffs imposed by Latvia. In 9 months of 1999, Rakvere 

Lihakombinaat exported for total of EEK 76.6 million. The exports 

have declined on y-o-y basis by ca 50% (EEK 148.2 million in 9-m 

1998).

 

The 9-months consolidated financial reports of AS Rakvere 

Lihakombinaat will be published through the Exchange system on 

Monday, December 06. 

 

 

Andrit Heidov

Information Manager

+372 32 29 211