Troja plywood manufacturer posts 20% turnover growth in 2021

• Published date: 25 May 2022
• Publication title: LETA

RIGA, May 25 (LETA) - Latvijas Finieris Group company Troja turned over EUR 23.143 million in 2021, a 20 percent decrease on 2020, while the company's profit increased 39.9 percent to EUR 499,376, according to Firmas.lv.

The company's management reported that during Covid-19 crisis, Troja employees received downtime benefits from the state and the company received a working capital grant at EUR 150,000.

Last year, the number of sold items by the company increased by 11 percent. In 2021, sales of separate product groups with higher added value increased, while overall demand for these products was lower than planned.

In 2021, the company invested EUR 48,000 in research, and EUR 500,000 in production equipment.

The management reported that last year the company installed a solar park in its plant in Riga with a...