Analytics, Latvia, Markets and Companies

In 2006, LMT achieved LVL 60.75 million in profit, informs LETA.

The company also achieved LVL 199.8 million in turnover last year, which is 8.6% more compared to 2006.

Capital investments into the company reached LVL 24.3 million last year, but the company has invested a total of LVL 246 million since it was established.

With the increase in profit and turnover, the amount of taxes LMT has paid into the national budget has also increased. LMT is one of the ten largest tax payers in Latvia. In 2007, the company paid LVL 39.7 million in taxes.

''The achieved results confirm LMT's ability to quickly adapt to conditions within the market. LMT is still the leading mobile telecommunications operator in Latvia, because the company offers its clients the latest services and in high quality. One of the tasks the company is working on at the moment is the expansion of the third generation mobile network, which has already encouraged many clients to connect their computers to mobile networks to use mobile internet,'' said LMT President Juris Binde.

The state of Latvia also owns 28% of LMT shares, Scandinavian telecommunications operator TeliaSonera – 49%, and Latvian telecommunications operator Lattelecom – 23%. The state of Latvia also holds a 51% interest in Lattelecom.