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Bakery named Latvia's most-admired company

The Laci bakery has been named the highest-ranked company in the annual Most Admired Companies List this year, while the company's owner and head Normunds Skaugis has topped the list of best business managers in Latvia.

Telecommunications company Latvijas Mobilais Telefons was in second place, grain processing company Dobeles Dzirnavnieks third, Swedbank is fourth, and pharmaceutical company Grindeks fifth.

Cosmetics makers Stenders and Madara Cosmetics were sixth and seventh, fuel retailer Statoil (currently being rebranded 'Circle K') eigth, wood processing company Latvijas Finieris ninth, and public catering company Lido in tenth place.

The 12th edition of the Most Admired Companies List was compiled by Latvian Investment and Development Agency, the PR agency Nords Porter Novelli, public opinion research center SKDS, and the newspaper Dienas Bizness.

Computer network equipment maker Mikrotikls made the biggest progress this year, moving up 78 places to 49th in this year's Most Admired Companies List.

Last year, confectionery maker Laima was named the Most Admired Company in Latvia.

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