The Board of Rokiškio sūris, AB approved the operational results and proposes to pay dividends for the year 2018
On 5 April 2019, the Board of Rokiškio sūris, AB (hereinafter - the Company) approved the consolidated and the parents Company’s audited financial statements for the year 2018 and the consolidated annual report of the Company for 2018, as well as the Company's profit distribution plan for 2018 and consequently proposed to submit these reports and profit distribution to the Company’s General Meeting of Shareholders for approval.
The audited consolidated sales of the Group of Rokiškio sūris, AB in 2018 amounted to kEUR 203,675, i. e. 16.38 percent less than in the same period last year. In 2017, audited consolidated sales amounted to EUR 243,566 thousand.
In 2018, the Group of Rokiškio sūris, AB earned a net profit of kEUR 1,918, i. e. 76.48 percent less than in 2017. Net profit of the Group of Rokiškio sūris, AB for 2017 amounted to EUR 8,156 thousand.
The decline in turnover in 2018 was driven by two main factors: 1) a drop in demand for dairy products in export markets and 2) a higher volume of hard cheese production.
The drop in profit was due to the fall in prices for dairy products in export markets.
According to the profit distribution project approved by the Board of the Company, the Board proposes to allocate EUR 3,506 thousand to dividends, i. e. EUR 0.10 per share.
Dalius Trumpa
CEO
