Akmenes 1H revenue up 42 per cent, Lithuania

Akmenes 1H revenue up 42 per cent, Lithuania
Published: 14 August 2008

Lithuania’s only cement manufacturer Akmenes Cementas said on Wednesday its sale revenue for the first seven months of this year soared by 41.5 per cent YoY to a record high of LTL178.3m (EUR 51.68m).

Monthly sales for July jumped by 38.9 percent from a year earlier to LTL35m, the company’s public relations officer, Richardas Sudaras, told BNS. He attributed the strong growth in revenue this year to increased demand for cement in Lithuania, due in part to the warm weather this past winter, and the timely completion of reconstruction at the plant. Akmenes Cementas’ sales for January through July reached 675,000t of cement, a rise of 15.7 per cent YoY. Cement sales for July rose by five per cent to LTLL127,000 litas. The company’s annual net profit more than doubled to LTL54m last year, up from LTL25.1m in 2006. Revenue surged by 31 per cent to LTL247.1m.