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International Internet Magazine. Baltic States news & analytics Tuesday, 19.03.2019, 08:19

Lido consolidated turnover increases 12.8% in 2017

BC, Riga, 10.08.2018.Print version
Catering company Lido posted EUR 50.933 mln in turnover last year, a 12.8 % increase on 2016, and EUR 1.07 mln in profit - as compared to losses the company incurred in 2016, according to data informed LETA.

Lido Marketing Manager Inese Blaune told that 2017 was a year of development and continuous upgrades for the company - a new restaurant opened at Imanta shopping mall Damme, new technologies were introduced at the company's restaurants and production facilities, and much more. Last year Lido had slightly more than 1,300 employees.

Lido CEO Maris Blumbergs said that market share expansion and innovation would were the company's priorities in 2018. The company will focus on new catering concepts, for instance, there is now a grill zone at the Lido restaurant next to Vermanes Garden where customers can grill their meals themselves, as well as a wrap zone. Lido will continue expanding in Latvia and Europe and work on new, innovative solutions, for instance, service automation at some of the Lido restaurants, added Blumbergs.

Lido was founded in 1991, the company's share capital is EUR 992,428. Gunars Kirsons is the largest shareholder with approximately 75% stake. Lido Group is made up of 13 restaurants and three stores in Riga and in the vicinity of the city, as well as three restaurants in Tallinn, two Kirsons restaurants and a production facility in Berlin, and a meat production facility, confectionery and brewery in Riga.

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