Brīvais vilnis                                                  20.07.2005



JSC “Brīvais vilnis” results for the 1st half-year of 2005



The core business of JSC ‘Brīvais vilnis” is to process and preserve fish

 and fish products, food product wholesale and other business. The company 

was registered at the Commercial Register of Latvia on May 14, 2002.



Year 2005 is the 14th year since the company was reorganized as a public 

company. 

During the 1st half year of 2005, the company has produced 17,9 millions 

boxes of different sorts (107) of preserved fish, including 9,6 millions 

cans of sprat. The company has sold 16,3 millions boxes and cans for 

LVL 3,6 millions, which is 45% of the planned amount during the year. The 

largest proportion was realized in Russia (46%), Kazahstan (7%) and Moldova 

(10%).



During the 1st half year of 2005 the company made losses of LVL 184,987.00. 

The cause of the loss was fluctuation of a currency rate. The USD dollar 

has significantly increased, and the company has calculated losses from the 

loans in the balance sheet. The business activities gained profit during 

the 1st half-year of 2005. The neto turnover for the 1st half year was

 3 566 thousands LVL. 



The aims of the company for 2005 is to reach 7 500 thousands LVL turnover,

 to organize the company according to EU quality requirements, to reduce 

production expenses and to optimize the management in order to compete in 

a fish preserve market. 



Chairman of the Management Board

Arnolds Babris



Unofficial translation by RSE