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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 15:38

Depo DIY retailer raises 2016 sales by 9.4%

BC, Riga, 02.08.2017.Print version
Latvia's do-it-yourself (DIY) retail chain Depo DIY (Depo) closed last year with a turnover of EUR 203.417 million, up 9.41% from 2015, and earned a profit of EUR 12.218 million at a 14.53% rise year-on-year, writes LETA, according to Firmas.lv business information website.

The company's management said that in 2016 Depo had strengthened its leading position in the Latvian DIY market.

 

Last year Depo increased to EUR 10 million its investment in the Lithuanian subsidiary, Depo DIY LT, which in 2016 opened the first Depo store in Klaipeda and will open another store in Panevezys in the second half of 2017.

 

The management underlined that Depo was one of the largest tax payers in Latvia and last year had paid EUR 32.884 million in taxes to the Latvian budget.

 

In 2015, Depo posted a profit of EUR 10.668 million on a turnover of EUR 185.916 million.

 

Founded in 2004, Depo is fully owned by DMT Pluss company.






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