Good for Business, Latvia, Retail

International Internet Magazine. Baltic States news & analytics Thursday, 24.09.2020, 05:50

Turnover of Drogas retail chain in Latvia up 4.2%

BC, Riga, 06.08.2019.Print version
Cosmetics and household goods retailer Drogas closed 2018 in Latvia with EUR 77.039 mln in turnover, up 4.2% from a year before, while the company’s profit grew 24.4% to EUR 13.238 mln, according to information available at Firmas.lv informed LETA.

In Lithuania, Drogas posted EUR 30.044 mln in turnover, up 3.2%.

 

Thus, Drogas concern last year generated EIR 107.083 mln in turnover, up 3.9%, while concern’s profit increased 23.7% to EUR 13.255 mln.

 

The company’s management attributed the turnover growth to introduction of new concept stores, strengthening client loyalty and attracting new clients. Last year Drogas opened five new concept stores in Riga. Also, the company opened an online store.

 

Drogas in the future plans to strengthen its leading position by opening new stores in Latvia and Lithuania.

 

In 2017, Drogas turned over EUR 73.952 mln in Latvia and earned a profit of EUR 10.637 mln.

 

The Drogas chain in the Baltics comprises over 140 stores in Latvia and Lithuania.

 

The first Drogas store was opened in Riga in 1993. The company’s share capital is EUR 1.821 mln.






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