Maxima owner profits jump by 22%

Kėdainių "Maxima"
DELFI / Karolina Pansevič

The owner of the supermarket posted €3.17 billion in consolidated revenue, excluding VAT for 2015, up 3.7% from €3.06 billion in 2015.

“The revenue growth in 2015 was mostly due to an economic recovery and improving consumer expectations and, hence, increased consumption, as well as the companies’ investments in expansion,” said Vilniaus Prekyba chief executive Raimonda Kizienė.

She said the group aimed to strengthen its position in the Baltic countries, as well as in the Polish, Bulgarian and Ukrainian markets, where its companies hold a small market share.

The group’s revenue grew 1.7% to €1.79 billion in Lithuania, by 4% to €0.75 billion in Latvia, and by 9.9% to €0.48 billion in Estonia. The group saw total revenue in Poland grow by 6.3% to €88.7 million, and by 10.4% to €74.3 million in Bulgaria.

Revenues in Ukraine, where it launched in 2015, were just €105,600.

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