Energy, Gas, Latvia
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Saturday, 20.04.2024, 12:10
Hefty profit for Latvijas Gaze in 2014
BC, Riga, 26.02.2015.
Print version
Print versionThe Latvian gas company JS Latvijas Gaze is looking at EUR 30.07 million in profit, which is 1.9% more than in 2013. This according to the company's non-audited 12-month financial review, handed in to "NASDAQ OMX Riga", cites LETA.
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In 2013, Latvijas Gaze made EUR 29.5 million. The 3.7% increase in earnings last year is connected to alterations in accrued stock due to staff costs and to cover liabilities set in the mutual contract.
Last year, Latvijas Gaze sold to consumers 1.29 billion cubic meters of natural gas; this is 10.9% less than in 2013. The slowdown here is connected to considerable fluctuation in air temperature, investments in renewable energy on the part of central heating utilities, and the partial replacement of fossil heat sources with wood chips.
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