Good for Business, Latvia, Markets and Companies

The company's management report says that the increase in the company's turnover last year was thanks to growing sales on the local market and steady export amounts. A 5.4% increase in turnover in Latvia last year is considered a good result.

A higher gross profit is attributable to the launch of new products on the market, increasing profitability of the existing product portfolio, and improving production efficiency. In the meantime, sales and administration overheads remained unchanged from 2017.

Cido Grupa's capital investments amounted to EUR 500,000 last year. The largest investment projects included adapting the production procedures to Pepsico requirements and improving production efficiency.

This year the company has been working on consolidating its market positions in Latvia by offering consumers new products in line with the latest market trends.

According to Firmas.lv, in 2017 Cido Grupa posted EUR 62.69 mln in turnover and EUR 2.851 mln in profit.

Cido Grupa was registered in 1994, the company's share capital is EUR 1,117,054. Danish company Royal Unibrew owns 99.99% of Cido Grupa shares. Cido Grupa makes juices, nectars and juicy drinks, as well as water, mineral water and beer.