aA
The Lithuanian subsidiary of former Ukrainian President Petro Poroshenko's confectionary giant Roshen slashed down production and laid off two-thirds of its workforce as it continued to operate at a loss last year, the business daily Verslo Zinios reported on Thursday.
Confectionary giant cuts production and lays off workers
© Shutterstock

"The Klaipeda factory is part of the international group Roshen's network of factories, and production at the corporation is planned at the group level," it quoted Roshen Nord CEO Zilvinas Urbonas as saying.

"Last year, it was decided to reduce the Klaipeda factory's production output for a number of reasons, including the efficiency of equipment and labor costs," he said.

The caramel factory in Klaipeda saw its annual loss soar to 333,500 euros in 2018. Roshen Nord, which has been operating in the red since 2011, has an accrued loss of 2.6 million euros, according to the Center of Registers.

The company's revenue came in at 5.78 million euros last year, down 37 percent from 9.26 million euros in 2017.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Minister: budget deficit to narrow, debt-to-GDP ratio to stabilize in 2021

The Lithuanian state's 2021 budget bill has been drafted with the aim of reducing the general...

One in 3 Lithuanians feels anxious about money

Thirty-nine percent of Lithuanians feel anxious about their finances every day, which adversely...

Simonyte: key budget issue is what to do with borrowed money (1)

The key question related to Lithuania's next year budget is what will be done with borrowed money...

Minister: Lithuania financially capable of withstanding another coronavirus outbreak

Lithuania would be financially capable of withstanding another coronavirus outbreak, Finance...

A new commercial bank has launched operations in Lithuania

PayRay , a Lithuanian financial sector company, has started a new page of its business service...

Top news

Only every 2nd resident would get coronavirus jab

Only half of Lithuanian residents would get a coronavirus vaccine once it is become available,...

Energy Minister: Moscow's note shows Baltics are taking right steps

Moscow 's call on Lithuania to review a new draft methodology for electricity trade between the...

China expresses resentment over Freedom Party's Taiwan independence support

The Chinese Embassy in Lithuania has on Friday expressed its resentment over the Lithuanian...

Nauseda urges to refrain from family gatherings on long weekend

Lithuanian President Gitanas Nauseda on Friday called on people to refrain from family gatherings this...

Health minister says nationwide quarantine possible

Lithuanian Health Minister Aurelijus Veryga on Friday did not rule out introducing a nationwide...

|Maža didelių žinių kaina