OREANDA-NEWS.The unaudited profit of the Baltic largest alcoholic beverage company AS “Latvijas balzams” (LB) reached 1.4 million lats in the first half of 2013, which is 30% more than in the same period last year. Financial performance has been achieved through targeted implementation of export programme in strategic markets and product portfolio development. The company's unaudited turnover in the first half-year was 32.5 million lats, which is by 2.6% more than corresponding period of the previous year.

“Progress is based on purposeful work. We produce more than one hundred brands of beverages for the domestic and export market demand. The product quality and excellence of the masters are confirmed with success in international competitions - coffee liqueur “Moka”, “Riga Black balsam”, and vodka “Riga Black Vodka”, successfully competing in both the home and export markets, were awarded in London and Los Angeles” says LB Chairman of the Board Guntis Aboltins-Abolins evaluating the success in first six months.

The main export markets in the first half of 2013 were the Baltic States, Russia, Germany, and Scandinavia, in same time new markets such as China were explored. The most significant increase in sales was achieved in Russia and Latvian tax-free zone.

During the first half of 2013, AS “Latvijas balzams”, as one of the largest local taxpayers, paid 21.4 million lats to the state budget, including excise tax, amounting to 15.9 million lats.

“In the second half of the year, we will continue to work on improving product portfolio for domestic and export market demand. By starting cooperation with the Russian alcohol market leader, we have set ambitious objectives to raise exports to Russia. To increase the efficiency of production processes and optimise logistics costs, we will continue to invest in innovative and environmentally friendly solutions,” plans Guntis Aboltins-Abolins.

The company has demonstrated focused cooperation and open communication with its customers, suppliers, partners, and consumers by moving up to the 15th place in Annual Reputation TOP among TOP 100 Latvian companies with the best reputation in the country. “Latvijas balzams” has been acknowledged as one of the 25 leading Latvian exporters, following results of a survey by “The Red Jackets” movement.