Company briefs - 2012-09-06

Pharmaceutical company Olainfarm achieved an increase in profit in the first half of the year, reaching 3.7 million lats (5.2 million euros), which is 15 percent more when compared to the first six months of 2011, reports Nozare.lv. The concern achieved 22.7 million lats in turnover in the first half, which is 27 percent more when compared to the same period last year. The company says that it has increased its distribution in the first six months of the year to such countries as Taiwan (by 596 percent), Latvia (by 313 percent), and Great Britain (by 75 percent). The company’s main markets remain Russia, Latvia, Ukraine, Belarus and Great Britain. The company plans to end the year with 8.6 million lats in profit and 48 million lats in consolidated turnover. Last year Olainfarm posted a record 6.8 million lats in profit.

A new container terminal will be completed next year in the north east Estonian Sillamae port, which will increase cargo volumes and add hundreds of new jobs, reports Pohjarannik. Land will be regained from the sea during the construction of the terminal. The construction of the container terminal, which will cost 30 million euros and have an area of nearly 40 hectares, started last summer. Around 10,000 cubic meters of concrete and 6,000 tons of steel is needed. “The investment and the volume of work is very big. Nearly 900 meters of quays will be built, sea deepening work will be done, a railway will be built on the quays next year,” Sillamae port board member Margus Vahi said. “This will be one of the biggest container terminals in the Gulf of Finland.”Vahi hopes that the first containers will reach Sillamae next spring or summer.

The Lithuania-based dairy producer Vilkyskiu Pienine’s consolidated un-audited sales amounted to 138.7 million litas (40.2 million euros) for the first six months of 2012 - an increase of seven percent as compared to the same period last year, reports LETA. The consolidated un-audited profit for the first six months of 2012 totaled 23,000 litas; profit for the first six months of 2011 totaled 4.3 million litas.