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Construction company ''Re&Re'' planning a 40% increase in turnover this year

Photo: Ieva Čika/LETA.
 RIGA, Nov 20 - Latvian construction company ''Re&Re'' is planning a 40 percent or more increase in turnover this year when compared to last year, the company's general director Didzis Putnins told the business information portal ''Nozare.lv''.
Last year, ''Re&Re'' achieved LVL 23.5 million in turnover, which was less than during the pre-crisis period.
''Many construction companies were carrying out dumping practices during the crisis period, but ''Re&Re'' decided not to do this. As a result, there was a drop in turnover, but we were able to carry out the company's budget - which meant that we were not forced to let go any of our engineers, and the company remained profitable during the crisis period. I believe that this is the most important for any company, because if a company is not profitable, there is no possibility for development, which leads to stagnation,'' Putnins said.
Putnins believes that ''Re&Re'' will exceed LVL 30 million in turnover this year.
''I do not want to make specific predictions, but I allow the possibility that turnover could even exceed the LVL 30 million mark,'' Putnins said.
In 2011, ''Re&Re'' operated with LVL 23.5 million in turnover, which was 12 percent less when compared to 2010, according to information on ''Firmas.lv''.
Meanwhile, the company operated with LVL 1.74 million in profit last year, which was by 46.5 percent less than in 2010, when the company posted LVL 3.25 million in profit.
"Re&Re" was founded in 1993, it carries out reconstruction, renovation and construction works.
leta.lv
20-11-2012
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