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Sanitas, Lithuania based pharmaceuticals producer, has announced today that it has reached a turnover of LTL 26M during August. We see the result as falling short of investor expectations, and expect a downward price correction to follow the announcement during the week.
Ukio Bankas has been awarded a long-term credit rating BB, and a short-term rating B by Standard & Poors. We see the news as very significant positive sign to the investors, as the rating is expected to have immediate and direct effect on the bank’s growth and profitability, through easier access to loan capital and the borrowing costs.
Kalev, Estonian confectionary producer, has announced a profit of EUR 1.9M (x23 y/y) on sales of EUR 59.2M (+4.1% y/y). While the profit figures may suggest a significant improvement when compared to the year before, a more careful look reveals that as much as EUR 6M of the net result comes from property revaluation of Kalev Real Estate Company. Adjusted profit of ~EUR -4M, is seen as below investor expectations, and should result in downward price adjustment in the short term.
SEPTEMBER OPENS HIGH... DAIRY SECTOR ON THE TIDE
Panevezio Statybos Trestas, Lithuanian construction company, has seen its share price soar by +14.9%, as well as take an unusually high 3rd place among the most traded shares of the week. The most likely reason by far is an entry of big investor or fund, as deal sizes averaged EUR 31K during the week.
Lithuanian dairy sector has enjoyed a week of growth, as Rokiskio Suris announced better than expected August sales of LTL 77.4M (+62.5% y/y), fuelling expectations for the whole industry. Zemaitijos Pienas closed up +6.48%, Rokiskio Suris +4.35%, and Pieno Zvaigzdes +1.87%.
Ukio Bankas has been awarded a long-term credit rating BB, and a short-term rating B by Standard & Poors. We see the news as very significant positive sign to the investors, as the rating is expected to have immediate and direct effect on the bank’s growth and profitability, through easier access to loan capital and the borrowing costs.
Kalev, Estonian confectionary producer, has announced a profit of EUR 1.9M (x23 y/y) on sales of EUR 59.2M (+4.1% y/y). While the profit figures may suggest a significant improvement when compared to the year before, a more careful look reveals that as much as EUR 6M of the net result comes from property revaluation of Kalev Real Estate Company. Adjusted profit of ~EUR -4M, is seen as below investor expectations, and should result in downward price adjustment in the short term.
SEPTEMBER OPENS HIGH... DAIRY SECTOR ON THE TIDE
Panevezio Statybos Trestas, Lithuanian construction company, has seen its share price soar by +14.9%, as well as take an unusually high 3rd place among the most traded shares of the week. The most likely reason by far is an entry of big investor or fund, as deal sizes averaged EUR 31K during the week.
Lithuanian dairy sector has enjoyed a week of growth, as Rokiskio Suris announced better than expected August sales of LTL 77.4M (+62.5% y/y), fuelling expectations for the whole industry. Zemaitijos Pienas closed up +6.48%, Rokiskio Suris +4.35%, and Pieno Zvaigzdes +1.87%.
