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International Internet Magazine. Baltic States news & analytics Tuesday, 16.07.2019, 23:50

Latvia: Troja wood processing company raises turnover 12.3% in 2018

BC, Riga, 10.06.2019.Print version
Troja, a subsidiary of the largest Latvian wood processing company Latvijas Finieris (Latvian Veneer), turned over EUR 26.073 mln in 2018, up 12.3 % against a year before, while the company’s profit contracted 46 % to EUR 524,657, according to information available at writes LETA.

The company’s management said in the report that the launch of new equipment enabled Troja to increase output and make more products with higher added value.

In 2018, Troja invested EUR 141,000 in research.

In 2019, the company aims to increase turnover against last year and adjust a property purchased in Riga Region last year for production needs.

At the same time, Troja managers are concerned about labor shortages which might affect the company’s growth this year.

Troja closed 2017 with EUR 23.217 mln in turnover and a profit of EUR 970,937.

Troja is 50-% owned by Latvijas Finieris while other shareholders are individuals. The company’s share capital is EUR 2.799 mln.

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