Foodstuff, Good for Business, Latvia, Markets and Companies

Forevers, therefore, also revised the end prices of its products.

The company’s board member Andrejs Zdans said that his forecasts for this year are very cautious. "Even though the food product industry is recovering, my forecast for this year are very cautious. The market situation is changing, therefore it is important to make quick and flexible decisions. Of course, we are glad that our store chain is winning a stable position in the market. The sum of the average purchase is also growing. Still, I am concerned about the country’s overall economic development, insufficient investments," he said.

Zdans said that the demographic situation also toughens the competition in Latvia – the reducing number of residents increases the fight for every customer. The situation is also negatively affected by the African swine fever, reducing the supply of pork in the market.

As reported, in 2016, Forevers generated EUR 31.686 million in sales, up 5.2% from a year ago, while the company's profit rose by 4.6% to EUR 1.5 million.

Forevers was registered in Riga in 1996, the company's share capital is EUR 1.3 million. The company has a production facility in Riga and branches in Jekabpils and Saldus. The company makes sausages, smoked meat and fresh meat.

Zdans is the sole owner of Forevers.