During the same period in question, Grigiskes AB sales amounted to LTL 167.1 million (EUR 48.4 million), which is LTL 18.5 million (EUR 5.4 million) or 12.5% more than in the same period last year.
During the reporting period, the Group earned LTL 25.9 million (EUR 7.5 million) profit before taxes, which is LTL 10.9 million (EUR 3.2 million) or 72.8% more than in the same period last year.
During the twelve months of 2014, Grigiskes AB earned LTL 12.3 million (EUR 3.6 million) profit before taxes.
"Our results of 2014 show that the Group managed to balance sales expansion with search of more profitable set of products and markets," Gintautas Pangonis, President of Grigiskes AB comments, "Moreover, increasing profit, which rose more than 70%, proves that the Group took weighted and proper decisions to invest into energy-saving production facilities and 2 new bio-fuel boiler houses in Vilnius and Klaipeda."
Presently, the Grigiskes AB is in the final implementation stage of its biggest investment project amounting EUR 15.3 million. New paper producing machine is currently being tested, and paper production start is planned in March 2015.
