EU – Baltic States, Good for Business, Lithuania, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Friday, 19.04.2024, 08:09
Revenue of DS Smith Packaging Lithuania grows 5.4% in its financial year
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“In 2014-2015, the situation in Lithuania’s cardboard industry market was rather difficult due to Russia’s embargo on many food products supplied from the European Union’s countries. This led to a substantial decline in the sales of Lithuania’s and the neighboring Baltic countries’ producers to Russia and, simultaneously, to a slump in demand for packaging products,” DS Smith Packaging Lithuania said in an annual report submitted to the Center of Registers.
Despite that, the company managed to attract new customers and to improve its annual performance, the report said.
The company’s net profit fell by an annual 8.7% to 1.16 million euros.
DS Smith Packaging Lithuania is fully-owned by Dutch-registered DS Smith Packaging International, which is a subsidiary company of UK’s DS Smith.
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