The dairy and ice cream production group “Food Union”, which includes the production plants JSC “Rīgas piena kombināts” and JSC “Valmieras piens” and the logistics company SIA “Premia”, ended 2021 with a 4% increase in consolidated turnover to 111.5 million euros.
Gross profit fell by 5% to EUR 25.5 million.
The increase in sales in 2021 is related to the increase in product selling prices, while the decline in profit is due to the rapid increase in the cost of key raw materials and energy resources, which were not fully reflected in the product selling prices.
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