LNG Group raises turnover 11.2% in 2021

Published date11 May 2022
Publication titleLETA

RIGA, May 11 (LETA) - Mobile phone operator Latvijas Mobilais Telefons Group (LMT) posted EUR 252.907 million in turnover last year, which is 11.2 percent more than in 2021, while the group's profit increased by 21.6 percent to EUR 33.105 million, according to Firmas.lv.

Turnover of the group's parent company amounted to EUR 159.833 million last year, an increase of 4.2 percent on 2020, while the company's profit increased by 16.3 percent to EUR 31.024 million.

The company's annual report says that 2021 was financially successful for LMT Group, mostly thanks to growing consumption of Internet, development of new services and companies' interest in LMT business solutions.

The report also says that LMT last year made the largest investments in infrastructure, network and technology development in the last 10 years. A total of EUR 33.6 million was invested in the development of infrastructure, network and technology in 2021.

One of the company's priorities last year was the development of 5G infrastructure and exportable services and business solutions. The first 100 5G base stations were set up at the beginning of December 2021. Last year, LMT also continued to develop the use and implementation of smart technologies.

lso last year, LMT continued to develop its retail network. Compared to 2020, demand for tablets...

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