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Tuesday, 09.06.2026, 06:39
Lithuanian state companies more than triple H1 profits
Danuta Pavilenene, BC, Vilnius, 27.10.2011.
Print version
Print versionIn H1 of 2011, Lithuanian state-owned companies have more than tripled their first-half profit as the Government seeks higher revenue from them to help finance the budget. Net income rose to LTL 249 million (USD 101 million), from with LTL 76.1 million in the first half through June 2010, the Economy Ministry said in a report on Thursday.
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The Government, which values the assets mainly in the energy, transport and forestry industries at LTL 20.3 billion, wants to increase efficiency in the companies to boost contributions to the budget, writes LETA/ELTA.
It expects to receive LTL 540 million in dividends from state-owned enterprises next year from 2011 profit to help cut the deficit to 2.8% of gross domestic product.
Return on equity rose to 1.6% in the first half from 0.7% in the first six months of 2010, according to the report.
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