Earnings of the Baltic List companies

  • 2000-06-29

- Ventspils Nafta (VN, Ventspils Oil) oil terminal's council has supported the payment of dividends for the last year at 0.02 lats per share, VN spokeswoman Gundega Varpa said. The council made this decision when discussing the distribution of profit earned in 1999. Last year VN posted net profit of 16.26 million lats ($27.1 million), from which 15 percent or 2.08 million lats will be paid in dividends.

Varpa said that the company's profit in 1999 allowed paying 0.023 lats per share in dividends. But the instructions by the Latvian Central Depository about payment of dividends and other proceeds to holders of securities required the issuer to determine the amount of dividends to within the accuracy of one santim. Ventspils Nafta posted audited net profit of 16.26 million lats ($27.1 million) on a net turnover of 45.86 million lats in 1999.

- Latvijas Unibanka earned a profit of 4.36 million lats ($7.27 million) in the first five months of this year, spokesman Haralds Burkovskis said. In May the bank's profit was 1.01 million lats. In the first five months of 1999 Unibanka's profit was 5.53 million lats. The bank's revenues from basic operations in the first five months of the year were 13.14 million lats, up 3 percent over the same period in 1999. The bank's assets in May increased by 5.7 percent or 21.18 million lats to 390.10 million lats on May 31.


- Over the first five months of this year Rokiskio Suris (Rokiskis Cheese), the most profitable milk-refining operation in Lithuania, saw its turnover reach 95.2 million litas ($ 23.8 million). Compared with the same period in 1999, the company's turnover grew by 46 percent, reported the company's economist, Valerija Simeniene. Over the same period, cheese production rose, from 4,536 tons last year, to 6,337 tons this year. Over five months Rokiskis sold 7,854 tons of cheese, of which 6,363 tons, or 81 percent, were exported. The company announces profits quarterly. In the first quarter this year Rokiskis Cheese made 5,089,000 litas ($ 1,272,250) profit.