Lithuanian Department of Statistics published the second quarter of 2012 year data, show continuing growth in corporate earnings – it was almost a tenth higher than in the same period last year. Corporate profits increased on average by 1.1 percent, compared with the same period last year. This indicates Lithuanian companies working with an average of about 10 percent pre-tax profit margin. Even currently existing low cost of money, such margin level does not drive to worry about.
Corporate profitability, comparing the second quarters of this and last years, as far declined (6.7 percent previous year and 6.2 percent this year), but part of this difference is due to ‘‘Orlen Lietuva‘‘ oil recycling plant repairing jobs.
The best earnings increase showed retail businesses, which partly help non-residents, shopping in Lithuania. Good results showed and the retail trade-related storage and transportation sectors. Most of the manufacturing industries, which account for the largest share of Lithuanian exports, profits were more moderate. Thus, domesticfirms,in second quarter of 2012 year, showed a faster profit growth.
Summing up the results we can say that neither positive nor negative surprises companies’ financial figures did not disclose, but most companies are currently operating stably and performance does not show signs of slowing down.