2012-06-26
More than half of issuers ended the year 2011 at a profit and with higher income
Based on audited reports, out of thirty one companies operating in Lithuania whose securities are traded on regulated markets, except for banks, twenty one finished the year 2011 profitably, earning LTL l.03 billion of net profits – which is 37 per cent above the figure for the net profits of companies whose operations were profitable in 2010. Last year, the income of issuers amounted to LTL 12.9 billion or one-tenth above the figure a year ago. The income of twenty one companies increased.
"Audited reports suggest that the previous year was quite successful for most issuers. While slightly fewer companies recorded profits in their operations than a year ago and the number of companies which operated at a loss increased, the net profits of companies which operated at a profit increased quite markedly, while the losses of companies which earned no profit were lower", Vaidas Cibas, Head of the Regulated Market Supervision Division of the Financial Services and Markets Supervision Department of the Bank of Lithuania’s Supervision Service commented.
Last year, ten issuers increased their net profits with the most pronounced increases recorded by AB “Sanitas” and AB “Invalda” (triple). The profits of eleven companies were lower. The most sizeable decline in net profits over 2011 was recorded by “Lietuvos Energija”, AB, from LTL 84.8 million to LTL 1.5 million.
Four companies which sustained losses in 2010 recorded losses at the end of 2011 as well, however these were less substantial. The company group “Alita, AB” was the most successful in reducing its losses from LTL 81.7 million to LTL 3.8 million.
A total of ten companies finished the year 2011 operating at a loss amounting to LTL 173.3 million, which declined by 26 per cent year on year, although the number of companies which operated at a loss increased by 11 per cent. Five companies incurred heavier losses last year and one company whose operations were profitable in 2010 ended the year 2011 at a loss.
The income within the telecommunications and the health care sectors declined in 2011 year on year, by .3 per cent and 2 per cent respectively. All other sectors recorded income increases with the most pronounced ones within the consumer services and the basic materials sectors (by 35 % and 25 % respectively). AB LESTO earned the highest income in 2011 – LTL 2.25 billion or 17.4 per cent of the total income earned by all companies.