TALLINNA KÜLMHOONE AS

ANNOUNCEMENT

10.03.99

 

COMMENTARY TO THE FINANCIAL RESULTS 01/99

 

The 1999 1 month consolidated net turnover of Tallinna Külmhoone 

AS was 26.7 million EEK. Compared to the same period last year 

(the 1998 1 month net turnover was 23.1 million EEK), the 

turnover was up 15.6% or 3.6 million EEK. The growth in turnover 

was caused mainly by growth in the sales of frozen meat products. 

 

During January, the total amount of ice-cream sold was 164 tons 

(164.5 tons in January 1998). The amount of ice-cream exported 

during January was 13 tons or 7.9% of the total sales volume of 

ice-cream. 

 

The 1 month loss of Tallinna Külmhoone AS was 31,000 EEK (39,000 

EEK in January 1998). The loss was mainly due to the seasonal 

characteristic of the company’s activities and growth in interest 

cost of the loan compared to the same period last year (784,000 

and 110,000 EEK respectively). The loan was taken for the 

construction of new ice-cream factory, which according to plans 

will be launched in the 2nd quarter this year.

 

 

Additional information:

Evald Karu

Finance Director

213-369