Vilnius, Lithuania, 2016-02-26 19:00 CET (GLOBE NEWSWIRE) -- Based on preliminary unaudited results Company‘s sales over whole year 2015 accounted to 163.79 million euros or 31.6% lower compare with sales a year ago. Sales resulted over the whole year 2014 were 239.62 million euros.
In 2015 Company earned 2.66 million euros net profit or 46.5% less compare with a net profit a year ago. Net profit in 2014 was 4.98 million euros.
Decline of sales and profitability was influenced by more than a year continuing milk product prices and demand fall in all export markets. Similar market trends also expected during year 2016.
However despite the falling market the company has plans to invest in production modernization about 17 million euros over the year 2016 and 2017. We expect that new investments will allow us to achieve sales growth from 5% to 10% during year 2016.
Audrius Statulevicius
CFO
(+370 5) 246 1419
