Akmenes profit falls by a third, Lithuania

Akmenes Cementas, Lithuania’s only cement manufacturer, last year saw its audited net profit fall by 36.3 per cent to LTL11.676m (EUR 3.38m), from LTL18.329m in 2012.

Annual revenues decline by 0.4 per cent to LTL247.557m, from LTL248.43m in the previous year, the company said in its 2013 report submitted to the Center of Registers.

Volume sales rose by 6.8 per cent to 1.066Mt from 998,000t in 2012.

The domestic market accounted for 44 per cent of total sales, Russia 22 per cent, Belarus 18 per cent, and the EU 16 per cent.