Akmenes lifts 2005 sales to EUR35m, Lithuania

Akmenes Cementas, Lithuania’s only cement manufacturer, posted sales of LTL119.823m (EUR34.7m) for 2005, up 14 per cent from LTL105.505m in 2004. In December, however, sales fell by 19 per cent YoY  to LTL5.89m.

’Annual sales grew thanks to buoyant growth in the construction sector’, CEO Arturas Zaremba said. ’December’s sales declined due to the start of repair work.’

He said the company targets sales growth of 10-15 per cent this year, to LTL131.8-137.8m. Final results for 2005 are to be published in early March.

The company plans to raise cement prices by five per cent this spring due to increased fuel and transportation costs, and rising labour costs.