May 29, Vilnius. AB Invalda earned 2.97 mLTL profit in the first quarter of 2009 (over the same period last year the profit was 68.7 mLTL). Meanwhile, the Invalda group’s first quarter loss reaches 6.7 mLTL (in the same period of the last year the consolidated profit of the group was 29.7 mLTL). The part of consolidated loss attributable to Invalda of this year first quarter is 6.49 mLTL (over the same period last year the attributable part of profit was 30.49 mLTL).
“The financial results of the group were as expected. In many companies the necessary changes are already made, businesses adapted to the varied environment. All this, of course, required a higher one-off costs, which are reflected in the first quarter results. However, we hope that fulfilled movements will affect positively companies’ financial condition, increase competitiveness during a longer period. We expect better results of separate businesses for the second quarter of this year”, – said the president of Invalda AB Darius Sulnis.
During the first quarter there was a significant reduction in liabilities, Invalda AB returned 78 mLTL loans and the group returned 94 mLTL loans – commitments largely been reduced from funds received from the part of “Sanitas” shares’ sale and from other cash flows.