Cement Akmenes income decline

Cement Akmenes income decline
Published: 17 December 2003

Akmenes Cementas, the nation's only cement producer, reported a seven per cent decline in eleven-month sales y/y, from 91.3 to 84.9 million litas (26.4 to 24.6 million euros), Lietuvos Rytas said. The senior managers at Akmenes Cementas have attributed the slump in this year's earnings due to growing competition with cement imported from Russia and Belarus. The drop of one-tenth in the price of cement in the Lithuanian market is seen as another negative factor for the domestic cement producer.