Inside information, 2018-05-02 09:00 CEST (GLOBE NEWSWIRE) -- The consolidated (unaudited) turnover of the company in the first quarter of 2018 amounts to 2.444 thous. EUR, which continues the upward trend of the previous years with 27% increase over the respective period last year.
The increase was mainly achieved by successfully continuing work in the existing markets. The fastest growth was observed in the countries within the European Union, where turnover increased by 38% (excluding Latvia); the growth has been also strong in Latvia – with 25% increase; while sales outside the European Union fell by 4% in comparison to the first quarter of 2017.
Overall, the company has positive outlook over the existing markets, and projects potential for further development in the next quarters, maintaining turnover forecast of 10 million EUR for 2018.
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