October 30, 2013

The turnover of Lithuania's KG Group in the first three quarters of this year was LTL1.1 billion (US$438 million), a rise of 5% on-year, influenced by the rise in new product sales in the country and abroad, together with the demand in service and newly offered services.

KG Group is concluded of grain company AB Kauno Grudai, poultry companies AB Vilniaus Paukstynas and AB Kaisiadoriu Paukstynas, informs LETA/ELTA.

According to Tautvydas Barstys, Head of KG Group, the businesses differ highly. However, the investments in recent years allow not only to immediately react to the market changes, but also to increase the range of innovative products and provide the customers with professional advice.

"We had set ambitious targets for 2013 - to increase the production of grain items with added value by 30%; to grow the exports of Kauno Grudai and poultries in new markets. We seek to invest in modern production and offer new quality products," said Barstys.

In the first three quarters of 2013, company group exports increased by 6% on-year and now are LTL370 million (US$147 million).

AB Kauno Grudai maintained stability and reached turnover of LTL696 million (US$277 million). Product range has dramatically changed. Numerous new products, aimed at customers looking for quality goods for competitive price, were introduced in different businesses.

Grain exports intensified in the third quarter of 2013, thus, increasing the turnover of crop production (sales of seeds, fertilisers, herbicides, purchase of grain and farmer consulting) by 10%. For the first time 31,500 tonnes of grain were exported to Turkey. This is the record amount for the company.

AB Kauno Grudai not only maintained export markets in Europe, but its products are also finding customers in Thailand, Singapore, Israel and United Arab Emirates.

KG Group employs more than 3,000 people. Its turnover in 2012 was LTL1.4 billion (US$557 million). In 2013 the company plans to invest LTL60 million (US$24 million) in development and projects a turnover LTL1.6 billion (US$637 million).