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Wednesday, 02.04.2025, 19:32
Turnover of Latvijas Finieris in Q1 of 2008 amounted LVL 38.2 million
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The company's profit amounted to LVL 2.2 million, which is two times more than in the respective period of last year, and the highest index in the past five years, reports LETA.
The enterprise has increased the volume of plywood production by 20%, comparing with the last year. LF has also stabilized production volume and significantly improved financial figures, regardless of the high costs and the limited availability of resources at the beginning of the last year, Medne emphasized.
"Although the veneer logs production in the first quarter remained at a relatively high level, while the prices of other resources, like labor force and energy supply, continued to grow, LF's activity in product development and long-term contacts with its customers allowed to achieve and maintain a good market share of high added value products in the principal segments of the target markets," said Uldis Bikis, chairman of the board at the company.
As reported, LF turnover last year reached LVL 124.9 million, or 11% more than in 2006 when it was LVL 112.4 million. Profit of the company last year amounted to LVL 5.4 million, which was 11% less than in 2006.
The turnover of LF this year is projected at LVL 145 million, and net profit – at LVL 6 million.
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