LV: Rimi Latvia expects similar performance in 2011.

By bne IntelliNews August 22, 2011
Chairman of the board of Latvias leading food and consumer goods retailer Rimi Latvia Valdis Turlais believes that in 2011 companys results are likely to be similar to those of 2010. Although holiday season is still ahead, uncertainly regarding the extraordinary parliamentary elections and the beginning of the heating season are seen to curb consumer demand, he commented. Rimi Latvia posted a net profit of LVL 5.57mn (EUR 7.93mn) in 2010, soaring eight-fold as compared to 2009, data of State Enterprise Registrar database Lursoft shows. Retailers consolidated turnover last year amounted to LVL 392mn, down by 1.6% y/y. To compare, companys total sales in all three Baltic States 2008 increased by 13% y/y to EUR 1.31bn and decreased by 11.9% y/y to EUR 1.15bn in 2009. Rimi Baltic operates about 240 stores (78 stores in Estonia, 101 stores in Latvia and 61 stores in Lithuania).
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EE: Estonian Air records EUR 49.2mn loss in 2012.

Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more

LT: Malsena acquires Latvian flour manufacturer Rigas Dzirnavieks.

Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more

EE: Estonian Air to return excess Embraer airplanes.

Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    6 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    6 days ago
  3. Russia’s war economy boosted by rising oil prices
    7 days ago
  4. Russia’s $13.4bn current account surplus in March second highest since 2007
    6 days ago
  5. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    24 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    28 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    26 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss