The results of business activity of AB “Žemaitijos pienas” group in 2017, excluding audit

In 2017, consolidated turnover (excluding audit) of AB "Žemaitijos pienas” group amounts to 172,28 mln. EUR that, if to be compared with the year 2016, has increased by 15 %. Growth in turnover is determined by the increase in the prices of raw cream and butter.
            In 2017 the net profit (as without audit) of  AB "Žemaitijos pienas” group is 5 million euros, that is 3%. from turnover. Profits, compared with 2016, decreased due to the high price of raw milk that the company paid farmers for high milk quality and loyalty.

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Julija Jarmontovic

Head of Law Division

Tel.: +37044422308