Rigas Juvelierizstradajumu Rupnica jewelry maker sees turnover drop 22.3% in 2018

RIGA - Latvia's listed jewelry maker Rigas Juvelierizstradajumu Rupnica turned over EUR 768,202 in 2018, down 22.3 percent from 2017, while the company's loss contracted 3.9 times year-on-year to EUR 22,029, according to a statement submitted to Nasdaq Riga.

The company's revenue in Latvia dropped 5.5 percent from a year before to EUR 625,638 last year, revenue in Lithuania fell 48.9 percent to EUR 141,706, and revenue in Bulgaria came to EUR 858.

In the future, Rigas Juvelierizstradajumu Rupnica plans to develop long-term trade partnerships with European and other countries' jewelry producers with the aim to expand its product range. In 2019, Rigas Juvelierizstradajumu Rupnica also aims to boost its turnover in wholesale, as well as share in the Latvian jewelry wholesale market.

Rigas Juvelierizstradajumu Rupnica closed 2017 with EUR 988,339 in turnover, up 30.7 percent against a year before, and a loss of EUR 85,287, which was 3.2 times higher than in 2016.

Rigas Juvelierizstradajumu Rupnica shares are quoted on the Nasdaq Riga Secondary List. The company's key shareholders are private individuals.