Agriculture, Good for Business, Latvia, Machinery construction, Retail
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Thursday, 25.04.2024, 21:10
Konekesko Latvija machinery distributor raises turnover 27.8% in 2017
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| Photo: konekesko.com |
The company’s management said that last year Konekesko Latvija increased sales revenue by 28% against 2016.
Sales of agricultural machinery grew 36% year-on-year thanks to the
availability of EU funding to Latvia’s farmers.
Last year, Konekesko Latvija
cut administrative costs by 10% from 2016, ensuring a pre-tax profit in the
amount of 5% of net turnover.
Given the overall economic and market situation, Konekesko Latvija does not expect its sales to grow much in 2018.
Konekesko Latvija closed
2016 with EUR 38.555 mln in turnover, down 7.8% from a year before, while its
profit dropped 21.6% to EUR 1.184 mln.
Founded in 1999, Konekesko Latvija
is a Latvian subsidiary of the Finnish group Konekesko Oy that sells agricultural machinery and grain.
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