International Internet Magazine. Baltic States news & analytics
Thursday, 30.06.2016, 02:30
The average turnover for all Latvian companies in 2015 amounted to EUR 21,700, which is 13% more than in 2014, informs LETA, according to Lursoft data.
Keyword tags: Financial Services, Good for Business, Latvia, Markets and Companies
US-based hotel giant Marriott International would like to see more than one Marriott-branded hotel in Lithuania, with the greatest potential seen in the economy and mid-priced segments, the business daily Verslo Zinios reported on June 29th, writes LETA/BNS.
The revenue of PKC Eesti, Estonian arm of the listed Finnish manufacturer of cable harnesses for the automotive industry, which in February 2016 announced it would lay off 613 employees in 2017, in 2015 increased 5% to 145.7 million euros and its net profit soared 51% to 17.9 million euros, informs LETA/BNS.
Latvia's Food Union dairy group, which comprises dairy companies Rigas Piena Kombinats (RPK), Valmieras Piens and Rigas Piensaimnieks, has started production of a new curds ice-cream Karums, investing more than EUR 120,000 in development and production of the new product, said LETA Normunds Stanevics, the board chairman of RPK.
Rimi Lietuva, one of Lithuania's biggest grocery chains, in 2015 improved its performance results thanks to new store openings and plans to continue its expansion in 2016, reports LETA/BNS.
China's tea production giant Yunnan Dianhong Group is considering setting up a representative office in Lithuania that could serve as a marketing center for Europe, Prime Minister Algirdas Butkevicius said, cites LETA/BNS.
Lithuanian-owned charter carrier Small Planet Airlines posted 76.757 million euros in revenue for 2015, a rise of 49.7% compared with 2014, informs LETA/BNS.
Apranga LV, the Lithuanian-controlled owner of Zara fashion stores in Latvia, closed 2015 with higher turnover and profit, reports LETA, according to Firmas.lv business database.
Lithuania's pharmaceutical wholesaler GlaxoSmithKline Lietuva is set to pay out 1.322 million euros as dividends to its sole shareholder after posting a net profit of 1.391 million euros for 2015, informs LETA/BNS.
The Estonian real estate developer E.L.L. Kinnisvara is to build a complex consisting of two office buildings and one residential building across the street from the Olumpia hotel in the Tallinn city center, and the first stage of the construction, which includes building a 30-storey office building and an underground parking lot is to be finished in 2020, reports LETA/BNS.
Aegean Airlines, Greece’s largest carrier and a Star Alliance member, is launching a new route out of Riga Airport to Athens for summer 2016, reported BC the press service of the Riga Airport.
The Estonian car safety equipment manufacturer Norma, a holding of the Swedish Autoliv, increased sales by 7% to 68.7 million euros in 2015 and its profit by 2.3-fold to 4.2 million euros, it can be seen from the company's annual report, cites LETA/BNS.
Latvian Madara Cosmetics eco-cosmetics producer last year increased its turnover 30% and its profit grew 19% year-on-year, informs LETA, according to Firmas.lv.
The Riga Zoo received 336,190 visitors in 2015, which is the highest annual number of visitors since 2009, reports LETA, according to the zoological garden’s annual report for 2015.