Foodstuff, Good for Business, Latvia, Markets and Companies

Latfood’s turnover in 2013 was EUR 15.633 million, in comparison with EUR 13.888 million in 2012.

The company's profit has tripled last year, reaching EUR 543,309, in comparison with 153,843 in 2012.

Last year, the most rapid growth in turnover was registered in Lithuania, where sales increased 15.9%. Rapid growth rates were observed in Estonia as well – 11%, and in Latvia – 6%.

In total, the company has succeeded in consolidating its positions on the export market, as well as to diversify its product range, which allowed it to increase the sales volumes and switch to three-shift operations.

The total amount of capital investments in Latfood reached EUR 251,140 last year. The largest amount of invests was made into the production line maintenance and improving its efficiency.

Last year, Latfood bought more than 13,000 tons of potatoes, which were cultivated at 20 Latvian farms specifically for the production of "Adazu Cipsi"

This year, the priority of the company is to further increase export and the proportion of products sold on the Baltic market.

Latfood was founded in 1993, it is largest manufacturer of potato chips in Latvia. The company has a 40% market share in Latvia and exports its products under the brand "Taffel" to Estonia, Lithuania, Russia, Great Britain, Georgia, Kazakhstan and Azerbaijan.