All news

1st quarter results demonstrate turnover growth

webam 733c5

The unaudited turnover of the Company in the first quarter of 2017 reached 17.7 million euro, which is 5% more than in the first quarter of 2016. The positive results are achieved mainly due to increased level of warehouse and logistics services provided to both 3rd part and Group companies.

The unaudited profit for the reporting period reached 1.18 million euro that represents 2% decrease versus the first quarter of 2016, mainly due to product mix, based on changes in consumer preferences.

Latvijas balzams AS is the leading producer of alcoholic beverages in Latvia, as well as one of the largest local taxpayers. During the reporting period, the Company paid 11.7 million euro to the state budget, including excise tax, amounting to 8.8 million euro.

The full financial statement for the 1st quarter is published in the section for Investors.