One of the largest construction companies in Lithuania Panevėžio statybos trestas (PST) group companies has earned 281 mln. Litas (81,4 mln. EUR) for the first half of this year based on the unaudited data which is by 2.5 times more than for the same period last year and its net profit amounted to 17.3 mln. Litas (5 mln. EUR). This is 4 times higher than for the same period in the year 2006 when the profit was 3.7 Litas (1,1 mln. EUR). ”The net profitability index of the PST gruop companies in the amount of 6.17% was mostly conditioned by experience in management of large projects on Lithuania scale and competencies as well as payback of investment in new equipment, technologies and personnel training. As the amount of work increases, the company managed not only to solve the issues of capacity and manpower but also to make money. The income from the real estate related activities have also contributed to the increase in profit: the subsidiary PST investicijos have profitably realised a real estate project during the first half of this year”, says Dalė Bernotaitienė, the Finance Director of PST. According to D. Bernotaitienė, the intensive second half of the year has started: some larger sites, such as Šiauliai Sports Arena, Panevėžys Combined Cycle Power Plant, Panevėžys Water Treatment Plant - are in the process of completion and some projects of vast scope - BIG in Klaipėda, Megrame in Trakai District and Panevėžys Sports Arena - have recently been started. For more information contact: Dalė Bernotaitienė Finance Manager PST AB Phone: 8 45 505 507;
Profit of PST has significantly increased for the first half of this year
| Source: Panevezio Statybos Trestas