Alcohol, Baltic Export, Good for Business, Latvia, Markets and Companies

The company's audited profit totaled EUR 7.96 million, a 24% increase on 2013. The result was achieved through focused development of the beverage portfolio, volume growth in strategically significant export markets, and production process efficiency, the company informs.

The growth of turnover, in turn, was influenced by significant increase in sales on export markets, for example, orders of SPI Group increased by 5.6%. The most significant increase in sales was achieved in the Baltic countries and Norway, and also in travel retail and duty free market. Continuing purposeful growth in strategically significant markets, the company has successfully expanded its range of products in China's market, and also laid the foundation for future growth in the U.S. and British markets.

Last year Latvijas balzams paid EUR 53.5 million into the state budget, including EUR 39.2 million in excise tax.

Latvijas balzams has been part of the Amber Beverage Group since October 2014. Amber Beverage Group was founded, and belongs to, the Netherlands-registered company S.P.I. Regional Business Unit B.V..