Lithuanian dairy company says it will lose profits due to Russia’s embargo but won’t go under

Pieno Žvaigždės exports to the Russian Federation accounted for 30 to 35 percent of its total sales. According to the company, these sales will be partly offset by sales to other markets (with lower profitability). But it will not be possible to compensate for all lost sales by the end of this year. Based on present situation and taking into account actual sales of this year, expected sales for the whole year of 2014 will be around LTL 800 million (EUR 230 million).

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