Baltic market review, week 46

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Autorius: DnB NORD bankas Data: 2007-11-12 10:48 Komentarai: (0)
Lietuvos Juru Laivininkyste, Lithuanian shipping fleet operator, has announced a record-high Q3 profit of LTL 22.9M (x17 y/y), bringing the year-to-date profit for the 9-months of 2007 to LTL 31.5M (+115% y/y). During the same period, revenue, at LTL 117M, grew +48% y/y, resulting in net margin increase to 27%, up from the last year’s 18%. While it is hard to expect the state-owned company stock to demonstrate phenomenal performance due to its generally low turnover and lack of liquidity, any medium-sized investor interest, especially likely in the light of announced results, could lead to exceptionally strong performance of the share price.

Ukio Bankas has announced a 10-month profit of LTL 73.6M, which is in line with announced plans, as well as on target to fulfil, yet hardly likely to break, the yearly target. We, however, expect the investors to be neutral at best, yet more likely disappointed by the result, as the bank used to break its guidance more often than not during the first half of the year.

Rokiskio Suris has announced to have acquired a 50.5% stake in Jekabpils piena kombinats, Latvian cheese and raw milk supplier. We expect the news to help the share price advance during the week.
 
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