The third quarter of AS MADARA Cosmetics has been

Inside information, 2017-11-21 12:14 CET (GLOBE NEWSWIRE) -- The consolidated (unaudited) turnover of the company in the third quarter has been 1 825 000 EUR, an increase of 29% over the corresponding period last year. Furthermore, the consolidated 9-month turnover of this year has reached EUR 5 410 000 and is slightly below 35% increase compared to the 9-month turnover of 2016. The 9-month turnover of this year is only 8% lower than the 12-month turnover of 2016 and demonstrates steady growth at the current pace.

In the third quarter of 2017, the sales of Latvia have increased by 13%; the sales inside the European Union (excluding Latvia) and outside the European Union have increased by 22% and 167%, respectively. The significant increase in sales outside the European Union is due to seasonal fluctuations, and there is currently no reason to believe that such an increase outside the European Union will continue in the upcoming periods.

From the experience of previous years, sales of the third quarter are lower than the sales of the fourth quarter due to lower activity during the summer months in the company’s most important European markets.

The shares of Madara Cosmetics are admitted to trading on Nasdaq Baltic First North Market.

The Certified Adviser for AS Madara Cosmetics is AS LHV Pank.

MADARA Cosmetics, founded in 2006, is the local pioneer in the field of natural cosmetics. In 2016 and 2017 the company and its managers were ranked among the top-10 Most Admired Business Leaders in Latvia. MADARA develops and manufactures all products exclusively at its own laboratories and facilities to ensure 100% control over processes. Further evidence of its passion for quality and perfection in every detail are the company’s ECOCERT organic certification, GMP (ISO 22716:2007) standard, and in vitro and in vivo research. For more information, visit  madaracosmetics.lv/investors/ .

         Additional information          Uldis Iltners          Managing director          MADARA Cosmetics AS          P +371 66154812          uldis@madaracosmetics.com          www.madaracosmetics.com