Riga, Latvija, 2013-11-06 07:55 CET (GLOBE NEWSWIRE) -- The „SAF Tehnika” Group’s non-audited net sales for the first quarter of financial year 2013/14 were 2.34 million LVL (3.41 million EUR), increasing by 25% compared to the first quarter of the previous financial year and being by 9% higher than sales in the previous quarter - Q4 of FY 2012/2013.
Comparing sales results with the first quarter of the financial year 2012/2013, substantial sales increase (by 60%) was achieved in Europe, CIS region where the Group has stable, local partner network supported, customer base and demand for almost all products from Group’s portfolio. Sales in Asia Pacific, Africa, Middle East increased by 27% showing growing trend already fifth quarter in a row, but results from the Americas were on the same level as year before, but lower than in previous quarters as deliveries of some large orders have been postponed to next quarter due to delays in project realization on customers side.
The consolidated net profit of the Group for the first quarter of 2013/14 financial year was 91 thousand LVL (130 thousand EUR), which represents an increase of 212 thousand LVL (301 thousand EUR), compared with the same quarter in the previous financial year.
In 2013/2014 there are no changes in the Group’s main focus on developing the Integra product line and working on specific niche products with the goal to satisfy ever increasing demand for efficient, qualitative, price attractive, high capacity data transmission products in the wide frequency range. The Group has set tasks to enlarge customer base and regain higher sales and profitability levels.
The Group remains financially stable and with positive outlook for the next operating periods, however the Board of the Group avoids giving any forward-looking sales and financial result statements.
Additional information: Aira Loite COO, Member of the Board +371 67 046 833 Aira.Loite@saftehnika.com
