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11.11.2016 Exports drive sales growth for Lithuania's Vilkyskiu dairy
Vilkyskiu Pienine, a leading dairy group in Lithuania, posted growth insales revenue for January through October 2016 thanks to rising prices fordairy products in export markets

"The growth is due to increasing prices in exportmarkets. We sell slightly more products from warehouses and have the result.All our export markets are growing more or less evenly," Vilkyskiu PienineCEO Gintaras Bertasius said.


He gave no exact figures, but said that the company expectsthis year to be better for it financially than last year.


Vilkyskiu Pienine's consolidated sales for the ten monthsthrough October rose by 8% y-o-y to 74.2 mln euros.


The dairy group's annual sales fell by 23% in 2015 from 2014to 84.4 mln euros. Its net profits slumped down to 1.175 mln euros.


Bertasius owns 51 % of shares in Vilkyskiu Pienine and MultiAsset Selection Fund, an investment fund of Orion Asset Management, holds a 17%stake.


Shares of the dairy company, which is based in Vilkyskiai,in western Lithuania, are quoted on the blue-chip Main List of the NasdaqVilnius stock exchange.

 
 
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