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International Internet Magazine. Baltic States news & analytics Tuesday, 17.09.2019, 01:50

Timber trading company SGK Nordic turnover increases 2.4 times in 2018

BC, Riga, 29.05.2019.Print version
Timber trading company SGK Nordic achieved EUR 28.079 mln in turnover last year, which is 2.4 times more than in 2017, and earned a profit of EUR 503,350, as opposed to losses recorded in 2017, according to informed LETA.

SGK Nordic annual management report states that the company increased sales on its main markets, the United States and Canada, as well as increased sales on the Egyptian market in 2018. At the same time, the company also increased veneer sales on new markets - Portugal, Mexico and Sri Lanka.

The company's management also reports that in 2018 SGK Nordic started selling birch veneer and plywood in Latvia and commenced cooperation with companies Dizozols Plus, Rusvi and Dailrade Koks.

According to SGK Nordic management, the company is rather cautious about 2019 and does not expecting significant growth this year. In view of the global demand for wood products, the company will strive to maintain current sales volumes, develop new products, and expand into new markets such as the Scandinavian markets.

In 2017, SGK Nordic worked with a turnover of EUR 11.787 and a loss of mln EUR 149,966.

SGK Nordic was registered in 2007 and has a share capital of EUR 35,560. Sergejs Kotovs is the owner of the company.

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