Baltic Export, Good for Business, Latvia, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Friday, 19.04.2024, 12:56
Madara Cosmetics raises 2015 sales 30%, profit grows 19%
Print version |
|---|
The company generated EUR 3.91 million in turnover in 2015 compared to EUR 3.02 million in 2014, and its profit was EUR 489,018, up 19% from EUR 410,545 profit in 2014.
The company's management said that last year Madara Cosmetics had completed a project for modernization of its production plant, upgrading its production technologies and installing new equipment which increased the production capacity and made it possible to introduce new products.
Altogether EUR 89,109 were invested in research and development last year.
Madara Cosmetics expects its further growth to be driven by exports, expanding in the existing foreign markets and entering new foreign markets. The company intends to invest its 2015 profit in business development, the management said.
Founded in 2006, Madara Cosmetics has several shareholders, mostly Latvian individuals.
«The Baltic Course» Is Sold and Stays in Business!
