Kurzemes CMAS
Joint Stock Company ‘Kurzemes ciltslietu un mākslīgās apsēklošanas stacija’ Annual report on year 2014

DGAP-News: Kurzemes CMAS

2015-03-24 / 15:27

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Jaunpils, 2015-03-24 15:27 CET (GLOBE NEWSWIRE) -- The financial showings of
the audited Annual Report are the same as in the Interim Report for the 12
month period. 

The Company turnover in 2014 amounted to EUR 1053462, which is 3.4% less than
in 2013. The Comapny's loss after tax is EUR 98089. Loses per 1 share (EPS) are
EUR 0.196. 

During the reporting year, the Company has received EUR 34964 as national and
EU subsidies. The subsidies have been received for the maintenance of breeding
animals and as EU area payments. 

In 2014, the joint stock company has acquired fixed assets totalling EUR 112394
including 20.8 ha of agricultural land for EUR 79194 to be used for grain
cultivation. 

From the European Union Structural Funds co-financing by the 2014, the EUR
18707 revenue. 

Loses incurred by the decision recommended by the Board and approved by Council
on own-produced breeding bull bioproduct inventory write-downs. The reasons for
bioproduct inventory revaluation are market trends in recent years, as a result
 Company's sales of imported breeding bull bioproduct increased. Sales
opportunities in future years of current breeding bull bioproduct inventory
over the age of 5 years were assessed. Breeding bull bioproduct in the amount
of EUR 254857 was written-off as result of revaluation. 

Losses incurred by the Company in connection with inventory write-downs do not
affect Company's cash flow and future economic activity. In the comig years, a
similar amount of bioproduct inventory write-downs are not intended. 

Profit or Loss Account for the Period Ended on 31 December 2014

                                                     2014.             2013.    
                                                       EUR             EUR      
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Net turnover                                             1053462         1090924
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Cost of sales                                             573233          589970
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Gross profit or loss                                      480229          500954
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Sales expenses                                            432773          221962
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Administrative expenses                                   208530          231575
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Other operating income                                     70011           78669
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Other operating expenses                                    1768           10780
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Profit or loss from operations                            -92831          115306
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Interest payable and similar expenses                        127             169
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Profit or loss before extraordinary items and             -92958          115137
 taxes                                                                          
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Profit or loss before taxes                               -92958          115137
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Corporate income tax                                                         105
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Other taxes                                                 5131            4233
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Profit or loss the reporting year                         -98089          110799
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Earnings (loss) per share (EPS)                           -0.196           0.253
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Daiga Lielpinka

Member of the Management Board

Tel. 63107104

E-mail: daiga@kcmas.apollo.lv
News Source: NASDAQ OMX



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2015-03-24 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English        
Company:     Kurzemes CMAS  
 
 
             Latvia         
ISIN:        LV0000100949   
 
 
End of News    DGAP News-Service  
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336801 2015-03-24