Lithuania's non-financial companies posted nearly 3 billion euros in pre-tax profits in the first six months of 2017, while their revenue totaled at almost 37.6 billion euros, Statistics Lithuania said on September 11th.

Lietuvos Gelezinkeliai (Lithuanian Railways, or LG) has cut its workforce by nearly 1,100 people in 2017, or almost 10%, and spent 5 million euros on severance payments, the business daily Verslo Zinios reported on Thursday.

Lithuania's postal and courier services market, as measured by revenue, grew by 5.8% in the second quarter of 2017 to 33.325 million euros, up from 31.507 million euros in the same period last year, figures from the country's Communications Regulatory Authority showed on Thursday.

Girteka Logistics, a transport and logistics company of Girteka, one of Lithuania's biggest logistics groups, said that it has signed a contract with Volvo Trucks to buy 2,000 new trucks.

Kesko Senukai Lithuania and ME Investicija, the operator of Girteka Logistics, are the two companies that made the biggest annual leap Coface's Top 500 in Central and Eastern Europe, jumping 94 and 79 spots, respectively, to 336th and 367th positions, according to the updated list published in Verslo Zinios business daily on Friday.

Statistics Lithuania informs that in II quarter 2017, against the same quarter of 2016, labour costs per hour worked in industrial, construction and service enterprises (individual enterprises included), calendar adjusted, increased by 10.4%, of which in business enterprises – 10.6%.

Lithuania's second-largest television and Internet services provider Cgates is borrowing 38 million euros from Swedbank, one of the country's biggest commercial banks.

Economic growth in Lithuania in the second quarter of 2017 was slower than in Latvia or Estonia and lagged slightly behind the EU's average, according to revised estimates published by the EU statistical office Eurostat on September 7th.

Lithuanian Transport Minister Rokas Masiulis says that a deal signed between Lietuvos Gelezinkeliai (Lithuanian Railways) and Orlen Lietuva earlier this year has not only ended long-running disputes between the companies, but has also opened the way for the state railway operator to provide more services to the Polish-owned crude refinery.

After a few years of growing at a slower pace, Lithuania's economy this year shifted into a higher gear. Driven by recovering exports, investments and strong home demand, it should grow by 3.8% in 2017, which is the fastest since 2012, Danske Bank analysts say.