Pieno zvaigzdes AB, not audited financial results for the first six months of 2012
Pieno Zvaigzdes AB
Pieno zvaigzdes AB, not audited financial results for the first six months of
Vilnius, Lithuania, 2012-08-23 15:30 CEST (GLOBE NEWSWIRE) --
Based on preliminary unaudited results Company‘s sales over six months in 2012
accounted to LTL 360.9 million (EUR 104.5 million), 7.0% higher compare to a
year ago. Sales resulted over six months in 2011 were LTL 337.2 million (EUR
97.7 million). Sales increased in both domestic and export markets. Export
volumes increased by 10% and domestic sales increased by 4%.
Over the six months of the year Company’s EBITDA accounted to LTL 25.1 million
(EUR 7.3 million) and decreased by 19% compare with EBITDA of LTL 31.1 million
(EUR 9.0 million) a year ago. The Company earned a net profit of LTL 6.6
million (EUR 1.9 million) or 40% less compared to a net profit of LTL 11.1
million (EUR 3.2 million) over same period in 2011. Decrease of milk products
prices in export markets had the major impact on Company’s profit decrease.
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