The unaudited turnover of the Company in the first half of 2018 reached EUR 32.3 million, which is 10.2% less than in the first half of 2017. The main reason is decreasing orders and sales volumes from key customers and markets – Lithuania, USA, Spain, and the Stoli Group.
However, the unaudited profits for the reporting period are EUR 2.9 million, which represents a 15% increase from the first half of 2017. The main reasons good Inventory management when material part of slow moving inventory was realized through other channels, as well as Procurement department managed to get more favorable deals for price of core raw materials. In addition to this change in CIT legislation helped to improve Net Income position and provide a possibility of further investment in automatization of production facility.
AS "Latvijas balzams"
Chairman of the Management Board
I.Geidāns
