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International Internet Magazine. Baltic States news & analytics Tuesday, 23.04.2024, 16:43

Latvijas balzams posts 7.9% increase in turnover and 20% rise in profits in 9 months

BC, Riga, 27.11.2015.Print version
Joint-stock Latvian alcoholic beverage producer Latvijas balzams achieved net turnover of EUR 55.27 million in the first nine months of the year, which is 7.9% more when compared to the same period last year, reports LETA, according to the company's non-audited financial report submitted to the ''Nasdaq'' Riga Stock Exchange.

Meanwhile, the company posted EUR 5.99 million in non-audited profit, which is 20% more when compared to the same period in 2014.

 

According to the report, the company has significantly increased its sales volumes increase in Lithuania (+38%), Estonia (+16%) and also in China and Romania. Continuing purposeful growth in strategically significant export markets, the company has successfully expanded assortment and partnerships, it reports.

 

Latvijas balzams has paid into the state budget EUR 40 million so far this year.

 

As reported, Latvijas balzams achieved EUR 73.05 million in turnover last year and posted EUR 7.9 million in profit.

 

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..

 

Latvijas balzams is the largest producer of alcoholic beverages in the Baltic States with a range of more than 100 different products. The company's production is exported to more than 160 export markets as mediated by SPI Group, and to 30 markets via the company's direct export route.





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