Advertising, Latvia, Markets and Companies

In 2009, Diena’s losses totaled LVL 2.91 million. Last year, Diena turned over LVL 15.76 million, or LVL 40,535 less than in 2009.

"Falling revenue from advertisements in 2010 caused us loses, as well as for many other companies in the media industry. Although the company was undergoing optimization, the shrinking media market and a significant reduction in purchasing capacity affected the results of the joint-stock Diena. The results of 2010 were also affected by the fact that a number of measures had to be taken to rectify mistakes by the previous corporation management, for instance, development of digital media had not been sufficient, which meant more attention and more investment last year," explained Diena’s board chairman Viesturs Koziols.

Last year, Diena made investments in various projects – development of national and regional media, revising magazines and publishing new ones, also modernization of printing equipment.

The most profitable company of the Diena corporation is Poligrafijas grupa Mukusala, which earned LVL 394,826 in 2010 and turned over LVL 9.37 million.