Company briefs - 2011-05-19

  • 2011-05-18

In the first quarter of the year, pharmaceutical wholesalers operating in Latvia reached a total of 70.7 million lats (101 million euros) in turnover, says State Agency of Medicines spokeswoman Sanita Skaidra, reports LETA. Overall, pharmaceutical wholesalers achieved 0.07 percent less turnover compared to the first three months of 2010, but nine percent more in turnover when compared to the first quarter of 2009. Pharmaceutical wholesaler Recipe Plus achieved the highest turnover in the first three months of the year - 21.7 million lats, followed by Tamro Ltd. - 14.6 million lats, and Magnum Medical Ltd. - 8.6 million lats.

Estonian state-owned electricity main grid operator Elering earned 14.1 million euros in net profit in the first quarter of this year, reports Delfi. Elering’s revenue in the first quarter was 33.1 million euros. During the whole of 2010, Elering earned a net profit of 14 million euros and had revenues of 89 million euros. Equity capital amounted to 160 million euros and assets 419 million euros at the end of last year. Elering invested 27 million euros last year.

One of the largest dairy producers in Lithuania - Agrowill Group - concluded an agreement with Polish brokerage company Rubicon Partners Dom Maklerski on representation and arranging of a public offering of the Lithuanian company’s shares on the Warsaw Stock Exchange, reports LETA. The company intends to offer up to 35 million shares on the Warsaw Stock Exchange and expects to raise 55-80 million litas (15.9-23.1 million euros) of the capital. Agrowill Group assets rose by 63 million litas to 110 million litas at the end of the year. The company’s pre-audited net profit stood at 6.3 million litas in 2010.