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2012.12.04 15:20

Lithuanian companies exceed earning expectations on Q3 – analysts

Jorge Marcano | The Lithuania Tribune2012.12.04 15:20

Most Lithuanian companies listed on the NASDAQ OMX Vilnius Stock Exchange have had a wonderful performance despite the Eurozone crisis. This diagnostic was made by various analysts who assessed companies’ performances during the third-quarter of 2012, reported the Verslo Zinios business daily.

Most Lithuanian companies listed on the NASDAQ OMX Vilnius Stock Exchange have had a wonderful performance despite the Eurozone crisis. This diagnostic was made by various analysts who assessed companies’ performances during the third-quarter of 2012, reported the Verslo Zinios business daily.

According to Tadas Povilauskas, financial analyst with Finasta bank, “in general, companies’ performance is really strong. I would say even better than expected since there were more companies reporting the profit that came in as a pleasant, rather than unpleasant, surprise. I may say that the sovereign debt crisis raging in Europe has not caused much harm so far and the companies continue as the driving force of the economy,” Povilauskas expressed to Verslo Zinios business daily.

In the meantime, Arvydas Jacikevicius, senior broker with SEB Bankas, shown himself more cautious, especially due to the fact that profits were being reduced, if one compares it with 2011, “Although domestic consumption continues to grow, the signs raising concerns about the export markets are increasing, which may drive the profit figures further down,” expressed Jacikevicius.

Companies listed on the Vilnius Stock Exchange posted about 189 million litas (EUR 54.78 million) in combinet net profits during the third-quarter. This represented an increase of almost 38%, compared to 2011.

Lithuania Tribune