Lango concludes the year 2009 with turnover 3.2 million lats

Lango concludes the year 2009 with turnover 3.2 million lats

Riga , 8th February, 2010

Information prepared by Jolanta Gaudieša, Head of Communication Department.

The leading producer of ready-made and instant food products Ltd Lango has concluded the year 2009 with turnover of 3 222 318 lats, which is 27% less than in the year 2008 but 6% more than in 2007.

The chairman of the Board of Ltd Lango Andrejs Fraimanis: „The last year in the sector of ready-made and instant food products has been hard, however, compared with a drop in turnover of 28% in retail and 30% in HoReCa sector in Latvia together, Lang has been able to reduce this decline. With full restructuring of the company's operations, optimizing production processes and logistics, and structuring the existing product groups we have been able to balance the company's revenues and costs. In the year 2010, purposefully acting in the Latvian market, we continue to review the existing product portfolio and develop new products groups. We are actively continuing the work in the Lithuanian market and we have begun to develop exports to Estonia and the Scandinavian countries. The objective of the year 2010 is to work with a profit.

In the first half of the last year Lango has reviewed and optimized all manufacturing processes, reduced the number of employees thereby increasing efficiency and productivity. The logistics have been revised and optimized, respectively, reducing costs and ensuring timely delivery of products to customers.

In the year 2009 taking into account the current market situation, as well as consumer preferences and needs, the company has revised the existing product groups and reduced production rates from 10% - 25%, depending on the product group. The group of Lango Classical sandwiches is completely redesign and transformed, the group of salads is developed and the pancake group is improved by supplementing them with products of new flavour. In the second half of 2009 some major projects have been implemented in the production under the private label, allowing increase the production.

In the year 2008 Lango Ltd set up a subsidiary company UAB Lango LT with an objective to reach 1.4 million euro turnover in the first year of operation. As show the results of operations of 2009, UAB Lango LT has reached 1 607 413 EUR turnover, which is about 13% more than it was planned. Company's investment in the Lithuanian market learning in 2008 and 2009 was drawn up in 285 000 EUR.

Planning a targeted export market development, Lango has certified its quality management system in accordance with international standards and obtained the certificate ISO 9001:2008 in the year 2009. It confirms the company's competitiveness and high level of responsibility for its consumers, business partners and employees.

Lango in details:

Founded in 1992 by local businessmen Lango is a leading producer of prepared and instant food products. Due to investments of 2.5 million lats the enterprise has established a new production unit, pursuant to legislation and European Union's standards, and introduced innovative technologies which allow extending the realization term of products without adding harmful for health preservatives. The enterprise produces salads, pancakes and sandwiches. On the 17th of June 2008 the subsidiary company UAB Lango LT was founded.

Additional information:
Jolanta Gaudieša
Ltd Lango
Head of Communication Department
Phone: +371 6 784 7262, mobile: +371 2 9219704
E-mail: jolanta.gaudiesa@lango.lv