Laima Aiming For Par Performance In 2009 As Economy Continues Plunge

BMI believes that Latvia's leading confectionery company Laima faces a challenging year in 2009. A subsidiary of the Nordic Partners Group (NPG), Laima recently reported a 230% dip in full-year 2008 net income to LVL442,900 (EUR631,959) on the back of a turnover of LVL32.6mn - a 2.6% year-on-year (y-o-y) increase - the firm is aiming to maintain flat turnover in 2009 and pursue further export opportunities. We have forecast Latvia's economic output to contract by a head-spinning 14.5% in 2009 - and equally bearish on the wider Balkan region - which means it is one of the worst performing economies

To read the full article, please choose one of the following options: