LV: Latviajs Gaze net profit up by 2.6% y/y to EUR 38.7mn in 2011.

By bne IntelliNews March 2, 2012
Latvijas Gaze (Latvian Gas) reported a net profit of LVL 27.2mn (EUR 38.7mn) in 2011, inching up by 2.6% y/y. Company sold 1.56bn m3 of gas in 2011, which was 13% less y/y. Overall revenues from gas sales and other services in 2011 were LVL 353mn, flat y/y. Latvijas Gze is granted state monopoly on export, storage and sales of natural gas. Company reported net profit of LVL 26.5mn (EUR 37.7mn) in 2010 (35% y/y increase).
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