Drogas stores have increased their turnover and profits, and are investing in the development of e-commerce

Cosmetics, hygiene and household goods retailer AS “drugs“Worked in 2021 with an increase in turnover and profit, it shows”Lursoft” available annual report.

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Compared to 2020, the turnover of JSC “Drogas” increased by 4.4% last year, reaching 84.36 million. euros, while the profit after taxes grew by 10.07%, rising to 9.67 million. euro. The company promotes the achievement of results by actively working on strengthening customer loyalty, attracting new customers, developing e-commerce and implementing the app, as well as ensuring a safe store environment in connection with Covid-19 restrictions.

“Lursoft” data show that last year the trader paid 12 million in tax payments to the state budget. EUR, including 2.7 million EUR in mandatory state social insurance contributions and 1.12 million. euro in personal income tax.

In 2021, JSC “Drogas” paid a lot of attention to the development of e-commerce, improving the online store and introducing the “Drogas” app, thus providing customers with new, convenient shopping opportunities throughout Latvia. The development of the online store and app continues this year as well, adapting it to customer preferences and making it even more convenient.

Continuing the development strategy, AS “Drogas” opened a new store in Liepāja in 2021, and also continued to introduce the company’s new concept in the regions. In total, at the end of 2021, 27 such stores were operating in Latvia.

At the end of 2021, the AS “Drogas” network included 151 stores, of which 95 are located in Latvia, employing a total of more than 900 employees.

In March 2022, AS “Drogas” and “Agri Investments” Ltd signed a share purchase agreement for the sale of all of its 100% shares in UAB “Drogas” to “Argi”. In July 2022, the transfer was legally completed and losses from the expropriation of 1.09 million were recognized. in the amount of euros. In March of this year, AS “Drogas” and UAB “Drogas” concluded a license agreement for the use of the trademark and a transitional services agreement, according to which, after the sale of the company’s shares, AS “Drogas” will continue to provide certain management services and strategic support to the company registered in Lithuania.

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