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Rigas Mezi turnover up 8.7% in 2018

BC, Riga, 22.01.2019.Print version
According to preliminary data, Riga municipal forest management company Rigas Mezi turnover amounted to a record-high EUR 20.063 mln last year, which is 8.7% more than in 2017, the company's board member Edgars Vaikulis told LETA.

"The company's management considers the performance results excellent as the increase in turnover was achieved without expanding the company's businesses, felling amounts, production or processing volumes. The increase is entirely attributable to improved efficiency," said Vaikulis.


The higher turnover was achieved mostly thanks to higher revenue from sale of round and sawn timber. In 2017, sale of round and sawn timber amounted to EUR 15.048 mln, while last year - to EUR 16.556 mln, or 10% more, said Vaikulis.


In the meantime, Rigas Mezi's felling volumes decreased to 196,649 cubic meters last year from 218,444 cubic meters in 2017.


As reported, turnover of Rigas Mezi in 2017 grew 23.5% to EUR 18.457 mln, while the company’s profit increased 9.5 times y-o-y to EUR 2.162 mln.


Rigas Mezi is the second largest forest management company in Latvia after Latvijas Valsts Mezi (Latvian State Forests). The company owns tree nurseries, Norupe sawmill and also manages Mezaparks and other Riga parks and gardens.






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