Latvia, Legislation, Transport

International Internet Magazine. Baltic States news & analytics Wednesday, 24.07.2019, 07:51

Turnover of Rigas Kugu Buvetava shipyard shrinks 4.8 times in Q1

BC, Riga, 02.07.2018.Print version
Rigas Kugu Buvetava shipyard reported EUR 817,872 in turnover for the first quarter of this year, which is 4.8 times less than a year ago, and the company’s loss expanded 2.6 times year-on-year to EUR 913,184, writes LETA, according to the company’s statement to Nasdaq Riga.

The shipyard’s gross first-quarter loss grew to EUR 970,303 this year from EUR 3,315 in the first quarter of 2017.

Riga City Vidzeme District Court has initiated a legal protection process for Rigas Kugu Buvetava after a number of insolvency claims were filed against the shipyard.

The shipyard's key shareholder is Remars-Riga which is part of Eiroholdings group.

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