TALLINNA KÜLMHOONE AS

ANNOUNCEMENT

12.04.99

 

COMMENTARY TO THE FINANCIAL RESULTS 02/99

 

The consolidated net sales of Tallinna Külmhoone AS during the 

first two months of 1999 amounted to 54.5 million EEK. Compared 

to the same period last year (2 months net sales in 1998 were 

43.2 million EEK), the company's net sales increased by 26.2%, 

or 11.3 million EEK. Increase in turnover was achieved mainly on 

the account of increase in the sales of frozen food products.

 

During the first two months of 1999, the company sold ice-cream 

in total amount of 302.9 tons (respective figure in 1998 was 305 

tons), of which export accounted for 35.3 tons or 11.7% of total 

sales of ice-cream. The 2-months loss of Tallinna Külmhoone AS 

amounted to 153 thousand EEK (in 1998, 2 months profit was 70 

thousand EEK). Major reason behind the financial loss was the 

seasonal nature of ice-cream sales and increase in the interests 

on bank loans compared to the respective period last year. The 

company took a loan to build a new ice-cream factory.

 

 

Evald Karu

Financial director

+372 221 3369