“In general, companies’ performance is really strong. I would say even better than expected, since there were more companies reporting profits that came in as a pleasant, rather than unpleasant, surprise. I may say that the sovereign debt crisis raging in Europe has not caused much harm so far and the companies continue as the driving force of the economy,” Tadas Povilauskas, a financial analyst with Finasta bank, told the daily.
Meanwhile, Arvydas Jacikevičius, senior broker with SEB Bankas, pointed out that the profit was going down if considering the period from the beginning of this year, which raised certain concerns.
“Although domestic consumption continues to grow, the signs raising concerns about the export markets are increasing, which may drive the profit figures further down,” he said.
The companies listed on the NASDAQ OMX Vilnius Stock Exchange posted 189 million litas (EUR 54.78m) in combined net profit for the third quarter of this year, up 37.7 percent from the year-earlier figure of 137.2 million litas.
Their combined revenues remained basically unchanged, year-on-year, and totaled 3.4182 billion litas in July through September.
In January through September, the combined net profit of listed companies contracted by 32.9 percent, to 380 million litas, from 566.4 million litas in the same period of 2011, although the revenues increased by 2.6 percent, to 9.4869 billion litas, from 9.2467 billion litas.
