Foodstuff, Latvia, Markets and Companies

This represents a decrease of 14.9% on the figures for 2008, when the firm had a turnover of LVL 12.74 million, writes LETA.

Gutta operated last year with losses of LVL 424,050, which is 2.6 times lower than the previous year. In 2008 the company suffered losses of LVL 1.1 million.

As reported, the company improved its sales figures in the third quarter of 2010 by 25%, the business portal Nozare.lv was informed by the company's Marketing Director Evija Karlsone.

The company's sales results indicate a 25% growth in the sector in Latvia compared with the same period in 2009. This year 2.13 million liters of juice were sold over the period, with 1.7 million liters being sold the previous year. In the third quarter of 2010, sales of juice were up by 0.34 million liters, or 8%, and sales of drinking water were up by 2.53 million liters, or 64%, indicated Karlsone.

The firm also managed to retain its 20% share in the overall juice segment in Latvia, despite the appearance of new competitors and a wider range of products on the market.

As reported, Gutta is owned by the company Nordic Partners Food Limited Malta, which also owns the sweets manufacturers Laima and Staburadze in addition to several other firms.