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Liepajas metalurgs posts LVL 2.3 mln in profit in 2011

Nina Kolyako, BC, Riga, 29.02.2012.Print version
The joint-stock metallurgical company Liepajas metalurgs earned LVL 2.3 million in unaudited consolidated profit in 2011, according to the company's unaudited financial report submitted to "NASDAQ OMX Riga".

In 2010, the company operated with LVL 7 million in losses, writes LETA.

 

Last year, Liepajas metalurgs achieved LVL 221.6 million in consolidated net turnover, LVL 17.4 million or 8.5% more than in 2010, when the company's net turnover amounted to LVL 204.2 million.

 

Liepajas metalurgs management points out that the company's net turnover and profit grew due to higher prices of rolled metals.

 

Liepajas metalurgs parent company earned LVL 2.3 million in profit in 2011, compared to LVL 6.7 million losses in 2010. Last year, the company turned over LVL 206.1 million.

 

LVL 48.75 million was invested in Liepajas metalurgs in 2011, including LVL 33.8 million spent on modernization of its steel production facilities.






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