Latvian Cido Group's revenue grew by 5% last year, while profit declined by 29%.

Latvian beverage producer „Cido Group“ has reported a 5.2% increase in sales revenue to EUR 90.425 million, but a 28.8% decrease in net profit to EUR 6.39 million.

The company's annual report shows sales of 126.8 million litres of beverages last year, up 1% on the previous year.

Revenues from domestic sales increased by 8.1% to €69.022 million, while revenues in Lithuania and Estonia – decreased by 6.9% to €17.636 million, elsewhere in the EU – grew by 57.5% to €2.302 million, and outside the EU – decreased by 11.6% to €1.464 million.

Almost all of the shares in „Cido Group“ are held by Danish „Royal Unibrew“.