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Latvia: LASCO posts LVL 13.35 in loss in H1/2010
02.09.2010 esmerk uutispalvelu
Baltic News Service, 31 Aug 2010, online

The Latvian listed shipping company, Latvijas Kugnieciba (LASCO), of Ventspils Nafta (VN) holding, reported LVL 13.35mn (EUR 18.83mn USD 23.87mn) in loss in the first half of 2010, in contrast to a profit made a year earlier. LASCO's net sales fell 2.3 times to LVL 23.99mn. In H1, the company focused on upgrading its fleet by replacing over 20 years old Kherson tankers with 6 years old vessels. The company's management evaluates that LASCO's operations may improve in H2.

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