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Friday, 19.04.2024, 23:27
Latvian Mediju Nams press publisher reports EUR 800,027 loss for 2015
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The company reported a EUR 1.579 million profit for 2014 and a loss of EUR 672,332 for a year before.
The press publisher's turnover, meanwhile, contracted 16% last year to EUR 1.936 million.
The company's management said in the report that last year's performance results suffered from a continuous decline in the printed press segment. Trends in retail trade and press subscription were not positive either.
Although the development of the company's online portal was faster than planned, it was not yet able to compensate for the decline in the printed press segment.
In 2014, Mediju Nams earned profit by selling a subsidiary, which is why that year's result cannot be objectively compared to last year's result, the management said.
Mediju Nams is one of the largest press publishing houses in Latvia. The company publishes Neatkariga Rita Avize daily, weeklies Maja and Vakara Zinas, monthlies Sporta Avize and Praktiska Astrologija, as well as maintains news website nra.lv and operates F/64PhotoAgency.
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