Akmenes Cementas, Lithuania’s only producer of cement, reported that its sales in the first eight months of this year grew 24.3 percent year-on-year to 70 million litas (20.3 million euros). In August alone, the company’s income advanced 28.3 percent annually -- from 9.9 to 12.7 million litas (2.87 to 3.68 million euros). "The sales continue to grow because of the booming construction sector. We sell cement successfully both in the domestic and the external markets," Arturas Zaremba, CEO of Akmenes Cementas, told ELTA.
The company occupies about 75 percent of the domestic cement market. Its sales in Lithuania account for 65 percent of total output. By the end of 2004, the producer expects sales to go up to 99.5 million litas (28.8 million euros). Last year, Akmenes Cementas earned audited net profits of 5.1 million litas, an increase of 3.5 times year-on-year.