Baltic Export, Good for Business, Latvia, Markets and Companies
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Saturday, 20.04.2024, 08:03
Sales of Madara Cosmetics grew by 37.9% in H1
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The company’s profit before taxes in the first six months of this year rose
2.5 times to the respective period last year to EUR 810,000.
"The successful results can be explained with the efficient processes
in the new plant that was launched in September 2016, and active operations in
the export markets. At present we export more than two thirds of the total
turnover, focusing mostly on the Scandinavian and Western European
markets," Iltners said.
In the first six months of this year the steepest sales growth were
reported in France, were sales rose four times, followed by Portugal with a 28%
growth, as well as Finland and Estonia with a 12% growth.
As reported, Madara Cosmetics
plans to start listing its shares on the Nasdaq alternative securities market
First North in the second half of this year in order to raise resources for
further business development with a focus on growth in foreign markets.
Founded in 2006, Madara Cosmetics
has several shareholders, mostly Latvian individuals.
«The Baltic Course» Is Sold and Stays in Business!
