LUG has worked out net profit for 1Q 2010
11 May 2010
LUG obtained 15,8 million PLN of sales income and the net profit on sales at 83 thousands PLN in 1Q2010, in comparison with 15,2 million PLN of sales income and 959 thousands of net loss for an adequate period in 2009.
„Improved results for 1Q 2010 are the outcome of the LUG export sales increase. We have been accomplishing more and more orders for the companies from the Near East, Western Europe and Russia. We have been continuing discussions concerning introducing our products to some new customers, from another counties. We strongly believe, that the export share will be in increase and will reach the level of 50%, what we have been able to obtain already in 1Q 2010. Such sales structure will allow us to maintain rather high and stable incomes level and ensure good profitability in the following quarters ” – says Mr. Ryszard Wtorkowski, President of the LUG S.A. Board of Directors.
In 2009, the year of overall economic breakdown, the Company had made some investments enhancing its fundaments, and in result it allowed on obtaining high incomes. The results of such operations have become visible already in 2010; the Company obtained net profit, which shall be improved quarter by quarter. Despite activities improving the sales volume, the Company has been implementing also the profitability improvement program called „10% Business Improvement”.
„Both, our dependent company LUG Light Factory Ltd., as well as the entire LUG S.A. Capital Group, after the period of lower economic parameters and negative financial result, once again are able to generate a net profit. As we expect, further periods shall be better also because of some increased investment dynamics, particularly due to infrastructure contracts concerning EURO 2012 as well as European Union directives concerning old luminaire replacement for energy-saving solutions.” – assumes Mr. Ryszard Wtorkowski, President of the LUG S.A. Board of Directors.
„Improved results for 1Q 2010 are the outcome of the LUG export sales increase. We have been accomplishing more and more orders for the companies from the Near East, Western Europe and Russia. We have been continuing discussions concerning introducing our products to some new customers, from another counties. We strongly believe, that the export share will be in increase and will reach the level of 50%, what we have been able to obtain already in 1Q 2010. Such sales structure will allow us to maintain rather high and stable incomes level and ensure good profitability in the following quarters ” – says Mr. Ryszard Wtorkowski, President of the LUG S.A. Board of Directors.
In 2009, the year of overall economic breakdown, the Company had made some investments enhancing its fundaments, and in result it allowed on obtaining high incomes. The results of such operations have become visible already in 2010; the Company obtained net profit, which shall be improved quarter by quarter. Despite activities improving the sales volume, the Company has been implementing also the profitability improvement program called „10% Business Improvement”.
„Both, our dependent company LUG Light Factory Ltd., as well as the entire LUG S.A. Capital Group, after the period of lower economic parameters and negative financial result, once again are able to generate a net profit. As we expect, further periods shall be better also because of some increased investment dynamics, particularly due to infrastructure contracts concerning EURO 2012 as well as European Union directives concerning old luminaire replacement for energy-saving solutions.” – assumes Mr. Ryszard Wtorkowski, President of the LUG S.A. Board of Directors.