September 13, 2011

Lithuania's Vilkyskiu dairy sales up by4%

Gintaras Bertasius, CEO of Vilkyskiu Pienine (Vilkyskiai Dairy) said their August sales rose by 4% with a stable market for August and September.

The executive said that there is no change in prices and the increase in sales was caused by their ample sales in export market.

The dairy group's consolidated sales revenues for the eight months through August increased by 18 % on-year to US$72.3 million with its consolidated sales up by 4 % to US$10.8 million.

Bertasius said that the results for August were broadly in line with expectations, adding that September will also be stable or close to the 2010 levels.

Vilkyskiu Pienine owns 97.26 % of shares in Modest and 99.3 % of Kelmes Pienine (Kelme Dairy).

Bertasius held a 50.38 % stake in Vilkyskiu Pienine, which is quoted on the blue-chip Main List of the Vilnius bourse, in late June.