June 2, 2011

Lithuanian Pieno Zvaigzdesdairy exports to Russia up in Q1

Pieno Zvaigzdes, one of the largest dairy producers in Lithuania, boosted exports to Russia, its top export market, by 2.1 times in Q1 of 2011.

The dairy company's exports increased to LTL64.885 million (US$27 million) from LTL30.557 million (US$12.7 million) in the same period last year.

Exports to the EU and other countries shrank by 2.7%, to LTL22.623 million (US$9.4 million), from LTL23.241 million (US$9.6 million) in January-March 2010, the company said in its Q1 report. Sales in Lithuania rose by 10.2%, to LTL77.794 million (US$32.3 million).

According to early estimations, the sales of the company rose by 33%, to LTL165.3 million (US$68.7 million) in January-March, from LTL124.392 million (US$51.7 million) in the same period last year. The dairy producer posted LTL6.7 million (US$2.8 million) in net profit for the first quarter, reversing the year-earlier net loss of LTL5.164 million (US$2.1 million). Pieno Zvaigzdes is quoted on the blue-chip Main List of the NASDAQ OMX Vilnius Stock Exchange.