LUG S.A. results for Q1’2011

The LUG S.A. capital group published the consolidated individual report for the first quarter of 2011.

The Issuer achieved over 20,78 mln PLN of consolidated sales income and a 200 thousand PLN net profit, therefore sustaining the growth trend from 2010. Comparing to the same period in 2010, there was an increase by respectively: 37,4 and 1231 percent. Therefore the LUG S.A. capital group fulfilled 23,17 percent of the income prognosis.

 -„We ended the first quarter with better results than expected. Season wise it’s the least profitable, whereas the first two weeks of January were devoted to an inventorying audit, therefore the company practically did not perform any operations. However, thanks to the constantly improving market situation and optimization of costs and production, we recorded an over 20,75 mln PLN income and a 200 thousand PLN net profit. The reasons for such good results were putting emphasis on export and sales of high mark-up products. Export accounted for a 55,72 percent share of our income structure, whereas domestic sales accounted for 44,28 percent. Currently we are certain of fulfilling the published prognosis. ” – says Ryszard Wtorkowski, CEO of LUG S.A.

 - „We constantly conduct research on new products. In recent months our offer oncluded new LED luminaires and LUG Master LED software. These facts confirm our activity in the area of product development.” – adds Ryszard Wtorkowski. .

Please read into our quarterly reports:

The consolidated report of LUG S.A. capital group for the first quarter of 2011 (pl)

The individual report of LUG S.A. for the first quarter of 2011 (pl)