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Lithuanian dairies to lure investors with dividends

Andriaus Ufarto/BFL nuotr. / Sūriai
Šaltinis: BNS

Although the fourth quarter of last year was not very successful for Lithuania's dairy producers, company managers and analysts give good marks to the industry's performance in 2011 and expect this year to be profitable, the business daily Verslo Žinios reported on Thursday.

Analysts say that shares in dairy companies are not cheap, but they are likely to offer attractive dividends, it wrote.

Four dairy companies listed on the NASDAQ OMX Vilnius stock exchange last year posted around 73.8 million litas (EUR 21.4 m) in combined net profits, almost unchanged from 74.3 million litas in 2010.

Their combined revenues last year increased to around 2.17 billion litas, up 17 percent from about 1.85 billion litas the previous year.

In the fourth quarter year-on-year, the dairy companies posted revenue growth of between 3 percent and 22 percent, but their profits fell by 35 percent to 49 percent.

The companies expect to operate profitably this year, despite falling dairy product prices and an anticipated slowdown in economic growth in their export markets.

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