AS MADARA COSMETICS Reports Successful Third Quarter

Inside information, 2019-11-14 07:55 CET

The consolidated (unaudited) turnover of the Company in the 3rd quarter amounted to EUR 2 675 thousand, which is 16% higher compared to the same period last year. Accordingly, during the first 9 months of this financial year, the consolidated turnover reached EUR 8 266 thousand, which is almost 19% more than in the corresponding period of 2018.

In the third quarter of this financial year, sales volume in Latvia increased by 5% y-o-y; sales volume in the European Union (excluding Latvia) increased by around 22% y-o-y; sales outside the European Union increased by 5% y-o-y.

The third quarter was strategically important for the Company. On September 26, the Company launched makeup product line and expects positive effect on the financial indicators in the next periods.

--

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.