Foodstuff, Good for Business, Latvia, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Tuesday, 23.04.2024, 20:07
Laci bakery in Latvia raises profit by 46% in 2019
The company's management reported that the bakery's operations were successful in 2019, as Laci increased both its turnover and profit. The profit growth was achieved thanks to increased productivity and efficiency, cost saving measures, as well as changes made to the product portfolio.
In 2020, Laci plans to renovate buildings and upgrade infrastructure, purchase new fixed assets, work on attracting new clients and expanding to new export markets. The company will be developing new products and scrap unprofitable products from its portfolio.
The company's management admitted that the restrictions introduced to curb the spread of the new coronavirus have been affecting Laci's operations, as consumers have become more cautious.
Exports have also been seriously restricted even though the state of emergency is over, the Laci management said.
The bakery's turnover is therefore expected to slightly decline this year.
Laci closed 2018 with EUR 8.314 million in turnover, which rose 2.1 percent from a year before, while the company's profit grew 23.9 percent to EUR 164,254.
Founded in 1995, Laci is fully owned by Normunds Skaugis.
- 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