Financial Services, Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Friday, 26.04.2024, 14:57

Rigas Juvelierizstradajumu Rupnica closes 2017 with audited loss of EUR 85,300

BC, Riga, 26.03.2018.Print version
The Latvian jewelry factory Rigas Juvelierizstradajumu Rupnica closed 2017 with a turnover of EUR 988,339, which is a growth by 30.7% from 2016, and its loss increased 3.2 times year-on-year to EUR 85,287, writes LETA, according to the audited annual financial statements submitted to the Nasdaq Riga stock exchange.

The company's revenue in Latvia in 2017 was EUR 662,371, up by 30.9% from 2016. Revenue in Lithuania increased 36.8% to EUR 277,280, and revenue in Estonia soared 4.7 times year-on-year to EUR 48,688.


According to the management report enclosed to the financial statements, in 2017 Rigas Juvelierizstradajumu Rupnica focused on updating its product range and looking for new cooperation partners.


In 2018, the company will continue looking for the possibilities to increase domestic and export sales of its products. It will also keep up the efforts to get new corporate orders and to participate in the government tenders.


Rigas Juvelierizstradajumu Rupnica intends to modernize its website for the benefit of wholesale customers and for faster analysis of sales to identify the necessary adjustments to its product range.


In 2016, the company audited turnover was EUR 755,960 and it reported a loss of EUR 26,994, according to the updated data.


Shares in Rigas Juvelierizstradajumu Rupnica are quoted on the Secondary List of the Nasdaq Riga stock exchange. The company belongs to several individuals.





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