Teksts
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Nine-month
results of the Baltic's largest producer of alcoholic beverages
JSC “Latvijas balzams” have maintained an increasing dynamics −
unaudited profit of the company for the period reached 2.6 million
lats, which is an increase of 2.7%, compared to the same period in
2012. Unaudited turnover of the company amounted to 50.4 million
lats, showing an increase of 0.1%, compared with the nine-month
turnover of the previous year.
During the nine months, “Latvijas balzams” as one of the largest
taxpayers in the country has transferred 30.2 million lats,
including 21.9 million lats as excise tax, in the state budget as
taxes.
Company's management associated the growth with the implementation
of new strategic approach in export operations and enhancement of
the LB product portfolio.
“The company continues development path that was started last year
and is based on development of “Latvijas balzams” beverage
portfolio, as well as focuses attention on its main export markets.
This year we have activated a number of our strong brands by
expanding product lines and creating new flavours, which is
important to consumers. During this period five new “Latvijas
balzams” beverage brands have been introduced, because one of our
main tools to reach the customers is the ability to produce
high-quality, innovative, as well as demand-related beverages”,
tells the LB Chairman of the Board Guntis Āboltiņš - Āboliņš.
Chairman of the Company’s board emphasizes that in the challenging
competitive environment that remains in Latvia, predictability of
the business environment in the domestic market, including
predictable tax policy, is very important to entrepreneurs. “The
state has a lot to do in the reduction of the shadow economy,
especially eradication of illicit traffic of alcoholic beverages”,
says the CEO of JSC “Latvijas balzams”.
By continuing implementation of the company’s export program, JSC
“Latvijas balzams” has speeded up the turnover in strategic markets
such as Russia, Germany, Turkey, the Scandinavian countries, and
duty free zone. Its sales amount increase within the nine months
amounted to +7.3% in Russia, +15.5% in Latvian tax-free zone, but
in Turkey increased by 28.6%. The company informs that within the
nine months reporting period after the SPI Group orders, the export
also has increased by 2.4%.
Despite the reduction in export turnover in the Baltic States,
Lithuania and Estonia still maintain an important market role in
the “Latvijas balzams” export policy. For example, this year such
products as liquor “Moka” with hazelnut flavour, brandy “Grand
Cavalier Honey” and others were specifically created for Lithuanian
market.
Company's Chairman of the Board G. Āboltiņš - Āboliņs notes that
“Latvijas balzams” beverages from the “Riga Black Balsam” line,
“Riga Black Vodka” and liqueur “Moka” have received this year a
number of medals at prestigious industry competitions in the UK and
the USA, which has a positive impact on the company's reputation,
as well as promote acquisition of new markets.
Additional information:
Dana Hasana
Communications Manager, JSC “Latvijas balzams”
Phone: +371 67011711
Mob. phone:+371 26355895
E-mail: dana.hasana@lb.lv
www.lb.lv
About JSC “Latvijas balzams”
JSC “Latvijas balzams” is a leading producer of alcohol beverages
in the Baltics with a history steeped in tradition since 1900.
Company represents 24% of Baltics alcoholic beverages market.
Its biggest pride, “Riga Black Balsam”, is one of the oldest
alcohol beverage brands in Europe rooted in 1752. The company has a
distillery of strong alcohol beverages and sparkling wines and
light alcohol beverages production plant in Riga.
JSC “Latvijas balzams” employs 600 people and is one of the biggest
taxpayers in Latvia. JSC “Latvijas balsams” with more than 100
product names is represented in almost all segments of strong and
light alcohol beverages, with many market leaders in Latvia. Among
the company’s products are such worldwide known brands as
“Stolichnaya”, “Moskovskaya”, “Riga Black Balsam” and “Rīgas
Sparkling Wine”.
JSC “Latvijas balzams” is one of the most significant exporters in
Latvia – its products are available in more than 160 countries
through SPI Group and in over 30 markets through direct export. The
company’s quality management system is certified in accordance with
ISO standards and has won hundreds of awards in various
international and domestic competitions and has obtained numerous
quality certificates. In May 2013 JSC “Latvijas balzams” was
awarded a silver medal in the Sustainability Index, improving its
overall performance compared to the previous year.
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