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International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 14:25

''Karavela'' increases profits by 62% this year

BC, Riga, 30.07.2014.Print version
Fish processing company ''Karavela Ltd.'', which produced the ''Kaija'' line of canned fish products, has so far this year increased profits by 62 percent when compared to the same period last year, as well as achieved a 12.5%increase in turnover, informs NOZARE.LV/LETA reffering to the company.

In the first six months of the year, Karavela achieved EUR 849,800 in profit, compared to EUR 524,000 in profit in the first six months of last year.


Furthermore, the company has also EUR 15.6 million in turnover in the first half of the year, compared to EUR 13.88 million in turnover during the same period in 2013.


According to the company's marketing director Janis Endele, this year has been an important year for the company, as the crisis in Russia has substantially changed demand in foreign markets.


''Our sales volumes in Russia have dropped from first to third place, behind now Sweden and Denmark. We export 15.5%  of our products to Sweden, 13.35% to Denmark, while exports to Russia only make up 12% now,'' Endele admitted.


As reported, in 2013, Karavela operated with EUR 29.79 million in turnover and EUR 803,960 in profit.


The company exports over 90% of its products and currently employs 317 persons.





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