06 February 2004 09:48
Lithuanian gas company `s profits rose 19 per cent in 2003
The energy company Lietuvos Dujos [Lithuanian Gas] has earned 68.4m litas [29m dollars] of net unaudited profit last
year. The company's net audited profit in 2002 was 57.326m litas or 19.32 per cent less than in 2003.
The German company Ruhrgas owns 35.7 per cent of shares and the Russian concern Gazprom - 34 per cent of shares in
the company's authorized capital amounting to 340.877m litas. Lietuvos Dujos plans to issue shares worth 140m litas
this year, of which Gazprom and Ruhrgas would subscribe to 70m litas' worth of shares each.
Last year, the share of gas imported by Lietuvos Dujos was 15 per cent or 436m cubic metres. Compared to 2002, direct
sales to consumers rose by 42.4 per cent to 828.1m cubic metres. The company's gas sales market share was 28 per
cent in 2003, up by 6 per cent from 2002.
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