Baltic Export, Good for Business, Latvia, Markets and Companies, Medicine
International Internet Magazine. Baltic States news & analytics
Thursday, 18.04.2024, 17:04
Riga pharmaceutical factory raises profit 2.8 times in 2019
The change of the company’s management in 2018 started a reform process aimed at improving the RFF product portfolio and overhauling its visual image, the RFF management said in the annual report.
The management said that the company's profit grew on account of a payment of dividends from subsidiary Jonnex Farma.
Last year, RFF added 10 new products to its portfolio and plans to keep expanding the product portfolio also in the future. The management noted at the same time that many of the products are outdated and no longer meet modern standards, which is why their sales decline by the year.
In 2019, the company concluded new agreements with partners in Austria, Poland, Cyprus, Estonia, Lithuania and Azerbaijan. RFF plans to increase turnover also this year, with the main emphasis on new products and export markets.
The company plans to add another 10 products to the portfolio.
The management said that RFF has not been affected by the economic slump caused by the Covid-19 crisis. In the first quarter of 2020 the company's turnover grew at a faster rate than expected. The management has defined the products important for combating Covid-19 and prioritized their production.
As reported, RFF turned over EUR 3.722 million in 2018, which is an increase of 1.6 percent against a year before, while the company’s profit grew 38.4 percent year-on-year to EUR 717,561. RFF is a member of Repharm Group.
- 28.01.2022 BONO aims at a billion!
- 13.02.2021 Моя жизнь в газете. Очерки по новейшей истории Латвии. Глава 1
- 25.01.2021 Как банкиры 90-х делили «золотую милю» в Юрмале
- 30.12.2020 Накануне 25-летия Балтийский курс/The Baltic Course уходит с рынка деловых СМИ
- 30.12.2020 On the verge of its 25th anniversary, The Baltic Course leaves business media market
- 30.12.2020 Business Education Plus предлагает анонсы бизнес-обучений в январе-феврале 2021 года
- 30.12.2020 Hotels showing strong interest in providing self-isolation service
- 30.12.2020 EU to buy additional 100 mln doses of coronavirus vaccine
- 30.12.2020 ЕС закупит 100 млн. дополнительных доз вакцины Biontech и Pfizer
- 29.12.2020 В Rietumu и в этот раз создали особые праздничные открытки и календари 2021