Consolidated profit and loss statement of AS „Olainfarm” for first six months
of 2012 shows that the Company continues setting profit records by making 3.7
million lats (5.3 million euro) net profit in six months of this year. This is
an increase by 15% compared to the first half of 2011, when the net profit was
3.2 million lats (4.6 million euro). This has so far been the most profitable
first half of the year in corporate history of AS “Olainfarm”.

Olaine, August 31, 2012, 2012-08-31 15:12 CEST (GLOBE NEWSWIRE) --

“We have experienced yet another profitable half year in our history, during
which, because of our own chain of pharmacies, we have increased our Latvian
sales fourfold. We have paid dividends for the second year in a row, and have
an intention to make this a long term tradition," says Valerijs Maligins,
Chairman of the Board of AS "Olainfarm".


Sales of AS “Olainfarm” during six months of 2012 have increased by 27% to 22.7
million lats (32.2 million euro).


During 1st half of 2012 sales to all key markets continued growing, except
Belarus, where sales remained stable. The biggest sales increases were achieved
in Taiwan, where sales grew by 596%, in Latvia, where sales grew by 313%, and
the UK, where sales grew by 75%. Major sales markets of AS “Olainfarm” in six
months of 2012 were Russia, Latvia, Ukraine, Belarus and the UK.


Annual meeting of shareholders of A/s “Olainfarm” held on April 27, 2012
approved operating plan of the Concern. According to it, sales of the Concern
in 2012 are planned to be 48 million lats (68.3 million euros), but the net
profit will reach 8.6 million lats (12.24 million euros). According to this
unaudited report for 1st half of 2012, during the first six months 47.2% of
annual sales target and 42.9% of annual profit target is met.



A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 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 30 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
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: [email protected]

Olainfarm_II_2012_eng_consolidated_birza.pdf