Fazer Maiznicas: Turnover increased by 33% in 2007

Riga / LV. (tbc) Latvian Fazer Maiznicas posted 10,23 million Latvian Lats (LVL) in net turnover in 2007, or 33 percent more than in 2006, according to data from the Registry of Enterprises Lursoft database. In 2006 the company turned over 7’702’313 LVL, whereas in 2005 the company´s turnover totalled 5’845’920 LVL. According to «The Baltic Course» Fazer Maiznicas profit in 2007 reached 587’937 LVL, an increase of 206 times on 2006 when the company earned 2’851 LVL. In 2005 the company posted 115’235 LVL in losses. Fazer Maiznicas has a 28 percent share of the white bread market in Latvia. Turnover of the Finnish Fazer Group, parent company of Fazer Maiznicas, reached 1,2 billion EUR in 2007 – an increase of about 20 percent on 2006.