The unaudited turnover of the Company in the first half of 2016 was 34.9 million Euros, which is 0.2% less than in the first half of Year 2015. The unaudited profit for the reporting period reached 2.9 million euro that represents 14% decrease versus the first half of 2015.

Profit drop has been impacted by decrease of sales in the most profitable markets. To compensate production and sales volume drop during first half of 2016, JSC Latvijas balzams has started providing an additional services – using employee competence and warehouse resources. From beginning of 2016 Company is providing a number of warehousing and logistics services, mostly to alcohol beverage companies – like transit assurance service, bonded warehouse services, 3PL services, value added services, picking, etc. Actions taken,  has allowed to maintain same turnover and more efficient use of available resources and assets.

JSC Latvijas balzams AS is the leading producer of alcoholic beverages in Latvia, as well as one of the largest local taxpayers. During the first half of 2016, Latvijas balzams AS paid 25.6 million euro to the state budget, including excise tax, amounting to 19.5 million euro. 
 

For additional information:

Dana Hasana

Head of Communications; dana.hasana@amberbev.com

+371 26355895