Agriculture, Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Saturday, 25.05.2019, 08:37

Scandagra Latvia sees turnover drop 5.2% in 2017

BC, Riga, 23.07.2018.Print version
Scandagra Latvia, a distributor of fertilizers, seeds, crop protection products and cereals, turned over EUR 73.752 mln in 2017, which was a 5.2% drop from a year before, while the company's profit contracted 30.7% to EUR 582,043, informs LETA.

The bulk of last year's turnover, or 78.89%, was made by selling grain and mineral fertilizers. The turnover decrease was put down to a drop of mineral fertilizers' prices. The company's management noted that the sales of crop protection products, seeds and agricultural lime rose by 5.15% last year.


In 2017, Scandagra Latvia spent EUR 554,000 on fixed assets. The number of employees working for the company grew 9% from 2016 to 58 people last year.


This year Scandagra Latvia aims to increase its share of the crop protection product market from 15% to 17% and reinforce its position as a distributor of mineral fertilizers and grain. The company plans to increase its turnover by 23% this year.


According to information from Firmas.lv, Scandagra Latvia closed 2016 with EUR 77.836 mln in turnover and a profit of EUR 840,149.


Scandagra Latvia, registered in 2009, has a share capital of EUR 3,000. The company's sole owner is Sweden's Scandagra Group.

 






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