Foodstuff, Lithuania, Markets and Companies

However, revenues distributed unevenly throughout the 9 months, as the first half sales were LTL 192 million (EUR 55.6 million), up 22% year-on-year, while Q3 sales were down 19% y-o-y to LTL 86.6 million (EUR 25.1 million). The decline was caused by a slump in dairy product prices on global markets and the Russian Federation embargo on food imports from Europe.

As a result, the group's nine-month consolidated unaudited net profit was LTL 4.8 million (EUR 1.4 million), just half of the result for the same period in 2013.

The Q3 profit (LTL 979,000/EUR 284,000) distribution by month was a LTL 2.2 million (EUR 637,000) profit in July, a LTL 1.1 million (EUR 319,000) loss in August due to the Russian embargo, and a LTL 0.1 million (EUR 29,000) loss in September, following stabilisation in the company's operations.