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Lithuanian stone wool maker Paroc doesn't expect income growth in 2016
BC, Vilnius, 23.05.2016.
Print version
Print versionLithuania's stone wool manufacturer Paroc, which is part of Finland's Paroc Group, netted an audited profit of 4.243 million euros in 2015, down by 28.3% from 5.916 million euros in 2014. The company does not expect its revenue to grow in 2016, informs LETA/BNS.
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The company's revenue dropped by 7.1% to 42.943 million euros in 2015 year-on-year, it said in a 2015 statement submitted to the Center of Registers.
"The income from sales within the country increased year-on-year, while exports to Russia, Belarus and Latvia shrank considerably. The decline was in part compensated by the sharp growth of supplies to Poland," Paroc said in its annual report.
According to the statement, the company's 2016 income and profit are not expected to rise.
This year, Paroc intends to pay all of its 4.243 million euros of profit in dividend to its sole shareholder, Paroc Sverige of Sweden. The company also paid all of its last year's profit in dividend.
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