Orkla Foods Latvija saw 5.4% increase in turnover last year

  • 2018-05-07
  • LETA/TBT Staff

RIGA - Orkla Foods Latvija, which manages the Spilva and Gutta food product labels, operated with EUR 31.51 million in turnover last year, which was 5.4 percent more when compared to the previous year, according to Firmas.lv.

Meanwhile, the company's profit rose by 6.2 percent last year to EUR 2.3 million.

The company informs that it continued to invest in development - a total of EUR 1.18 million in 2017.

Orkla Foods Latvija ships its products to the United States, the Czech Republic, Denmark, Estonia, Ireland, Canada, Russia, the UK, Lithuania, Norway, Slovakia, Finland, Ukraine, Germany and Sweden.

As reported, Orkla Foods Latvija generated EUR 29.909 million in turnover in 2016 at a 22.6 percent growth from 2015, and its profit rose 34.6 percent to EUR 2.169 million.

Norwegian food group Orkla in August 2014 acquired Latvia's NP Foods group and later decided to merge Latvian food companies Laima, Staburadze, Latfood and NP Foods into one company called Orkla Confectionery&Snacks Latvija and also to merge Latvian companies Spilva and Gutta into another company, Orkla Foods Latvija.