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.