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International Internet Magazine. Baltic States news & analytics Tuesday, 23.10.2018, 07:14

Latvian food company Kronis plans to increase sales by 5% in 2017

BC, Riga, 24.11.2017.Print version
The Latvian food-processing company Kronis in 2017 plans a 5% sales growth compared to the previous year, the company’s board member Aivars Svarenieks reported LETA.

"Sales would be by some 5% higher than last year. This is related with active sales work and activities in the retail chains, campaigns," said Svarenieks. He said that the company’s turnover rose also in foreign markets, but slower than overall growth.


Svarenieks said that the company this year continued exports to Russia, where the biggest problems are related with the low value of the Russian currency and low purchasing power.


The company also sold its products in the UK, Ireland, also Lithuania and Estonia, where there are no changes in the demand compared to the previous years.


He reminded that last year Kronis joined a project of the Latvian Food Competence Center and is working on new products for foreign markets. We plan to adapt our existing products for sale on foreign markets.


Kronis closed 2016 with a turnover of EUR 2.028 million, down 0.7% from 2015, and its profit shrank 2.8 times to EUR 1,270, according to business information website.


Kronis was established in 1993. Its largest shareholders are Janis Abolins (46.16%) and Aivars Svarenieks (40.04%).


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