Latvijas Balzams plans to export to Italy Balzams with espresso flavor

RIGA - Joint-stock Latvian alcoholic beverage producer Latvijas Balzams will release later this summer its fifth Rigas Melnais Balzams flavor - espresso, which the company plans to sell in Italy, the company informed LETA.

''Coffee flavored alcoholic beverages have become very popular round the world,'' the company's brand director Maris Kalnins said. ''We are confident that the new Balzams flavor will be popular on the Latvian and Baltic markets, as well as elsewhere. We also believe it will be very popular in the Italian market, where we will be exporting it from July.''

As reported, Latvijas Balzams turned over EUR 75.138 million in 2018, down 4 percent from a year before, while its profit rose 8.8 percent to EUR 9.387 million.

Latvijas Balzams shares are quoted on the Nasdaq Riga Secondary List.