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International Internet Magazine. Baltic States news & analytics Tuesday, 23.01.2018, 02:30

Poultry farm Kekava's turnover rises 11.2% in 2016-2017 FY

BC, Riga, 11.01.2018.Print version
Latvia's largest poultry farm Putnu Fabrika Kekava posted EUR 62.057 million in turnover last financial year, which continued from July 1, 2016 to June 30, 2016 - an increase of 11.23% on the previous financial year, writes LETA, according to Firmas.lv.

On the other hand, the company's losses rose 1.5 times to EUR 694,942.

 

Putnu Fabrika Kekava's management report states that the company produced 31.5 tons of chicken meat last financial year, as compared to 28.4 tons in the 2015-2016 financial year. The company's management points out that last financial year was comparatively stable for the poultry industry - there were no substantial changes in poultry feed component prices and prices of energy resources, while demand for poultry on the company's main markets remained steady or slightly increased.

 

Last financial year, the company continued investing in maintenance and modernization of equipment and technological procedures. The company completed reconstruction of six coops with support from the European Agricultural Fund for Rural Development. New equipment for sausage production was set up, as well as new refrigerators and meat grinders. Total investments amounted to EUR 4 million last financial year.

 

Putnu Fabrika Kekava's main goals for the 2017-2018 financial year include continuing its investment projects, improving production efficiency and product quality.

 

Kekava Poultry Farm was founded in 1991, the company's share capital is EUR 18,928,084. Lithuania's Linas Agro Group holds 87% of the company's shares.






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