Foodstuff, Latvia, Markets and Companies

Cido grupa operated last year with losses of LVL 1.98 million, while in 2008 the company made a profit of LVL 2.12 million, reports LETA.

The company's report notes that 2009's figures are not fully comparable with those from 2008, given that the reorganization process by which "Lacplesa alus" and "Livu alus" were incorporated into the group was completed on December 1, 2008.

Commenting on the future perspectives for the group, the board of Cido grupa indicated that there are plans to strengthen the most popular brands, offering those products to the market which most closely correspond to the current demand. Special attention will be paid to new export opportunities.

The board also expressed hopes that the measures taken in 2009 to optimize expenditures will bear fruit in 2010, allowing continued reduction of the group's credit and the strengthening of its competitiveness.

For over a decade, Cido grupa has been among the largest soft drinks producers in the Baltic States. As of 2004, Cido grupa is a subsidiary of the Royal Unibrew group, which is the second largest drinks producer and the largest exporter in Scandinavia.