LV: Maxima Latvia revenues up by 11% y/y in H1.

By bne IntelliNews August 7, 2012
Maxima Latvia, Latvian subsidiary of Lithuanian retailer Maxima group, recorded revenues of LVL 215.2mn (EUR 306.2mn) in H1, which indicates increase of 11% y/y, the company announced. Gintaras Jasinskas, head of Maxima Latvia, indicated that most of the growth came from continuous expansion of the retail chain. As of end-H1 there are 137 Maxima stores in Latvia, the company plans to open several more by the end of the year. In 2011 the companys consolidated sales stood at LVL 413.2mn, up by 5.8% y/y. Consolidated net profit stood at LVL 1.6mn in 2011, down sixfold y/y. Maxima started operations in Latvia in 2001.

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