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International Internet Magazine. Baltic States news & analytics Wednesday, 20.03.2019, 18:01

Four Latvia’s fastest growing companies post more than 1,000% turnover rise in two years – Lursoft

BC, Riga, 08.01.2019.Print version
Four of Latvia’s fastest growing companies posted a turnover rise by more than 1,000 % in 2015-2017, according to Lursoft business database writes LETA.

The leader with a 1,854% turnover rise in two years is iPS Media, a company organizing online courses on photography with iPhone. In 2017 the company’s turnover was EUR 5.2 mln, and the profit reached EUR 1.46 mln.


IGJJ retailer of sports goods posted a turnover rise by 1,737 % in two years, VMS Construction company recorded a 1,343% rise, and Ekers Stividors LP, a stevedore operating at Liepaja port, posted a 1,295% turnover rise in two years.


According to Lursoft, the average turnover rise of the Top 100 fastest growing companies was 344.07% and the aggregate sales reached EUR 242.9 mln. These companies employed 1,674 people in total, and the average age of these companies is six years.


63 out of the Top 100 companies are registered in Riga, ensuring 60.7% of the aggregate turnover.






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