International Internet Magazine. Baltic States news & analytics
Wednesday, 30.07.2014, 03:56
Cosmetics and perfume retail company ''Douglas Baltic'' achieved EUR 27 million in consolidated turnover last year, which was 3.7 %more when compared to the company's previous financial year, informs NOZARE.LV/LETA.
Keyword tags: Financial Services, Good for Business, Latvia, Lithuania, Markets and Companies
Bigbank, which started last year with board member change, grew its profit by a half; the company's goal is to snatch market share from universal banks with its new loan products, Äripäev Online reports, informs LETA.
The international financial magazine "Global Finance" has named "SEB banka's" internet bank the best in Latvia for the second consecutive year. The winners were selected by a world-class judging panel who assessed the possibilities customers have and the level of service, informs LETA.
In the second quarter of 2014 consolidated revenue of BAIP group according to preliminary data reached EUR 4.257 million – 41% increase, compared to the same period last year - EUR 3.015 million. BAIP group EBITDA (earnings before interest, taxes, depreciation and amortization) also increased by 41% and reached EUR 0.338 million. In the same period last year EBITDA amounted to EUR 0.24 million, said the company in a statement, informs ELTA/LETA.
Estonian casino operator Olympic Entertainment Group (OEG) informed the Tallinn Stock Exchange that in the first half of 2014, its consolidated net profit attributable to equity holders of the parent company totalled EUR 10.3 million compared to EUR 9.7 million a year ago, informs LETA.
Port of Tallinn (AS Tallinna Sadam) earned an unaudited half-year net profit of 20.2 million euros with company’s turnover reaching 59 million euros. Compared to last year the turnover increased by 7% and the net profit by 16%, reported BC Marko Raid, the Chief Financial Officer of Port of Tallinn.
Dairy company joint-stock ''Tukuma piens'' achieved EUR 49.31 million in turnover last year, which was 15 percent more when compared to 2012, when the company operated with EUR 42.84 million in turnover, informs NOZARE.LV/LETA reffering to the company.
The banking sector's total profit in the first six months this year amounted to EUR 176.8 million, according to the Financial and Capital Market Commission's data, reports LETA.
For the winter season, Latvian airline airBaltic will launch two new direct routes to link Tallinn, the capital of Estonia, with Paris and Vilnius, the capital of Lithuania, with Amsterdam, reported BC Janis Vanags, Vice President Corporate Communications of airBaltic.
Ryanair, Europe’s biggest low fares airline today (July 28) announced a Q1 Net Profit of €197m, an increase of 152% over last year, although cautioned that this result was distorted by the timing of a very strong Easter in Q1 with no holiday period in the prior year comparable. Traffic grew to 24.3m as load factors rose by 4% points to 86%. Average fare rose by 9%, boosted by a strong Easter period, while total revenues were up 11% to €1.496bn. Unit costs fell by 2%, excluding fuel they rose by 1%б reported BC Howard Millar from Ryanair Holdings plc.
SIA Linas Agro, a subsidiary of AB Linas Agro Group, has refinanced its existing liabilities and attracted new capital to develop its business in Latvia. The credit line for working capital in the amount of 30 million euros has been granted by SEB and DNB banks in Latvia within the scope of the club loan with SEB Banka being the leading bank of the transaction. The funding is secured in equal parts - 15 million euros by each bank, says the company in a statement, informs ELTA/LETA.
The number of foreign travelers to Latvia has increased steeply in the first quarter this year, which is mostly thanks to the authorities' measures aimed at fostering tourism to Latvia, informs NOZARE.LV/LETA reffering to the State Tourism Development Agency's tourism market expert Lelde Benke.
Beer brewery "Aldaris" has maintained a steady turnover in 2013, whereas the company's losses reduced by 33 percent, the company also paid EUR 3 million in compensation to employees last year, informs NOZARE.LV/LETA.
The city of Tallinn water utility AS Tallinna Vesi announced that its net sales of the first half year of 2014 have increased by 1.9% to 26.68 million euros, compared to the same period last year while operating profit remained stable, informs LETA.
Compared to May, level of construction costs in Latvia in June 2014 decreased by 0.1%. Prices of building materials dropped by 0.3%, maintenance and operational costs of machinery and equipment – by 0.1%, but labour remuneration of workers increased by 0.3%.