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The company's preliminary profit has not yet been calculated. In 2018, UPB anticipates its turnover to increase more than 10%, said Rosicka.

Last year, UPB Group companies developed new products with higher added value, which combined several constructions into a single product to make it faster for construction companies to construct new buildings. UPB is also involved in several research and development projects together with the Riga Technical University.

Some of the major achievements for UPB last year include designing metal and reinforced concrete structures for a 28-story office building in Stockholm by UPB engineers, signing a contract worth more than EUR 20 million on construction of a part of a student village on a foreign market, while the major projects in Latvia included construction of the IKEA shopping center and part of the Liepaja Olympic Center.

UPB engineering office in Belarus was expanded last year, it now has a team of 11 working on several foreign projects. A UPB subsidiary will be set up in Lithuania in the near future.

UPB holding's consolidated turnover in 2016 amounted to EUR 147 million. UPB is one of the leading industrial corporations in Latvia that has been operating on Latvian and foreign markets for 26 years now.