OREANDA-NEWS. May 31, 2012. AS Latvijas balzams is the biggest producer of alcoholic beverages in Latvia, as well as one of the largest taxpayers in Latvia. During first quarter of 2012 AS Latvijas balzams paid 9.3 millions lats to the state budget, including excise tax amounting to 6.8 millions lats.

The unaudited turnover of the company in the first quarter of 2012 was 15.3 million lats, which is by 15% more than in the first quarter of 2011. Turnover in the domestic market has risen by 20%, in the export market by 12.5%, and export orders of S.P.I. Group has increased by 13%. During the first quarter of  2012, sales to the EU countries were in the same level as last year, sales to Norway increased by 21%, and sales to Latvia`s tax free zone increased by 28%. Increase in sales was affected by strengthening targeted market relations with partners in the main markets. During the first quarter of 2012 the top focus sales markets were the Baltic States, Russia, the Netherlands and Scandinavia. Meanwhile, new export markets were actively acquired, for example, Slovakia, Slovenia, Kazakhstan and Belgium.

The unaudited profit for the reporting period was 313 thousands lats, that is 3% less than in the first quarter of 2011. Decrease in profit comparing to the first quarter of 2011 were caused by the increase of price of raw materials and by difference of total sales distribution between product categories.

Future perspectives of activity

The company has successfully introduced new products thus improving product portfolio. Increased attention will be put on development of new competitive products, extension of the existing market share, as well growth in export market. AS Latvijas balzams 2012 priorities will be further control of production and logistics costs, optimization and improvement of production efficiency, increase of company's competitiveness.

AS Latvijas balzams will continue to support nature friendly solutions, persistently improving activities that decrease company's negative impact on the environment, establishing high requirements for itself and company's partners.