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Ventspils Nafta Nine-Month Net Income Rises To 3.3 Million Lati

Ventspils Nafta AS, a Latvian port and terminal operator, said net income rose to 3.3 million lati ($6.1 million) for the nine months this year, 44 percent higher than the previous period a year ago as the cost of sales fell.

Revenue fell 23.9 percent in the period to 40.1 million lati, and the cost of sales dropped about 40 percent to 29.3 million lati, the company said in a stock exchange statement. Latvian Shipping Co., a subsidiary of Ventspils, had not made available earnings information for the third quarter to the Ventspils and was not included in the statement.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor responsible for this story: Willy Morris at wmorris@bloomberg.net

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