L. J. LINEN financial results for Q1 2023
L. J. LINEN has published Q1 2023 unaudited financial results. The report has been enclosed to the announcement and will be made available on the company’s homepage www.ljlinen.com
During the first quarter of 2023 LINEN has increased its turnover by 50% compared to the respective period in 2022. In fact, during the month of March the company has managed to sell the highest amount of goods in one month in its history. The profitability of the company has been slightly lower, which is explained by the fact that some regions were slower to restart consumption after Christmas and New Year holidays. Consequently, LINEN had to shift goods that were contracted and destined for other regions. Company proved that its position in the market and access to distant continents creates great resilience to regional market fluctuations. The company can fulfill all its contractual obligations and provide great room of flexibility to its end customers. Following global economic uncertainty, during the first quarter LINEN was undergoing revision of its operational costs to be prepared in case there would be any unfavorable developments in the global economy. LINEN is continuing to work on diversification of its product portfolio and is intensively exploring possibilities to do cross-continent trade by importing as well as exporting goods from its markets. Such a strategy will help mitigate any currency risks that might arise and strengthen the company's position in each of the markets.
LINEN is closely monitoring global economic developments, but it still believes that its main markets are still on a growth path.
About L. J. LINEN:
L. J. LINEN is engaged in the sale of animal by-products and the provision of a tailored agricultural supply chain to market leaders. L. J. LINEN provides a seamless, full-cycle door-to-door sales and delivery service - the company is as a bridge between raw material producers and producers of animal feed, biofuels and human food. L. J. LINEN’s shareholders have in-depth knowledge and expertise in the sale of these components, gained in almost 30 years of experience and working with clients in 46 markets. The company is a supplier to some of the world's largest animal feed manufacturers and is one of the largest exporters of these ingredients to developing countries.
Monta Tija Brakovska
SIA “L. J. LINEN”
Treasury manager
Phone: (+371) 29942431
Email: monta.brakovska@ljlinen.com
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