Lithuanian state-owned enterprises make €69.9m in profits in first quarter

State owned enterprises (SOEs) earned €69.9 million of normalized net profit over the first three months of 2016.

Energy sector companies enjoyed 11.9% profit increase compared to the same period last year, shows the Management Coordination Centre report on 124 SOEs for the first quarter of 2016.

Among the SOEs, energy companies earned the highest profit, €58.2 million, amounting to 83.3% of the total SOE profits.

UAB EPSO-G reported the biggest earnings growth among the SOEs with €12.8 million net profit, or twice more than during the corresponding 2015 period.

Alfa.lt

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