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Baltic Block pallet block maker increases sales by 27.7% in H1.

RIGA, Sept 11 (LETA) - Latvian pallet block manufacturer Baltic Block in the first half of this year generated EUR 10.6 million in turnover compared to EUR 8.3 million a year ago, the company's representatives reported.

According to LETA's estimates, the six-month turnover rose 27.7 percent from the respective period last year.

In the first six months of this year the company sold 70,366 cubic meters of products, up 42.2 percent from the respective period last year. The company's profit though declined by 17.1 percent to EUR 354,000 compared the respective period last year.

The company's director Andis Skele said that the drop in profit can be explained with more expensive supplies and energy costs. Also wages in the company were risen.

Skele said that the first six months of this year had not been as successful as a year ago. Still, the company is profiting and stable, and the second six months of this year might bring positive corrections.

According to business database, in 2018 Baltic Block posted EUR 17.89 million in turnover and EUR 1.354 million in profit.

Baltic Block was registered in 1997, and has a share capital of EUR 6.93 million. The company's owner is Buvniecibas Un Attistibas Projekti. The company exports its products to more than 25 countries.

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Date:Sep 11, 2019
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