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Saturday, 27.04.2024, 04:55
Latvian starch maker Aloja-Starkelsen raises annual turnover 16.2%
BC, Riga, 04.01.2017.
Print version
Print versionThe Swedish-owned Latvian potato starch maker Aloja-Starkelsen generated EUR 7.621 mln in turnover in the past financial year from September 1, 2015, to August 31, 2016, and increased its profit 20.8% to EUR 287,850, according to Firmas.lv business information website writes LETA.
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The company's management said in its report enclosed to the annual financial statements that the turnover growth was due to higher sales of organic potato starch and growing sales in Sweden.
During the past financial year Aloja-Starkelsen bought new fixed assets and renovated the existing fixed assets to increase production efficiency, to reduce energy consumption and to improve product quality. Those projects were carried out with support from the EU structural funds.
In the previous financial year that lasted from September 1, 2014, to August 31, 2015, Aloja-Starkelsen reported a profit of EUR 238,203 on a turnover of EUR 6.56 mln.
Founded in 1991, Aloja-Starkelsen is 97.93% owned by Swedish company Sveriges Starkelseproducenter Forening.
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