Company briefs - 2006-03-01

  • 2006-03-01
Baltic Cinema, Latvia's main film distributor, earned a profit of 559,100 lats (795,500 euros) last year - a 25.9 percent rise from 2004 - and its net turnover grew 10.2 percent to 4.5 million lats, according to its annual report. Director Atis Amolins told the Baltic News Service that turnover and profit growth was due to an increasing number of movie goers, which topped 1 million last year. As for 2006, he said turnover would depend on the movies being shown: "If the movies are good, turnover will keep growing; if the movies are bad, it will decrease." Baltic Cinema is the largest owner of movie theaters in Latvia.

The Croatian shipbuilder 3.Maj will provide Latvijas Kugnieciba (Latvian Shipping, or Lasco) with its first new tanker, which is to be delivered this summer. Latvian Shipping spokeswoman Marita Ozolina-Tumanovska said this ship will be followed by nine more over the next few years. All vessels built will meet EU marine safety requirements and international conventions. Company board chairman Imants Vikmanis said that newly built modern vessels were crucial for further development and competition. The Latvian Shipping fleet presently comprises 40 vessels, including 32 tankers, 5 reefer vessels, 2 gas carriers and 1 dry cargo vessel.