AB Rokiskio Suris, one of Lithuania’s two biggest dairies, rose for a fourth day to the highest in a year on speculation it will report strong third-quarter financial results next week.
The shares rose 4.3 percent in Vilnius to 1.45 euros, the highest since Nov. 14, 2011, valuing the company based in the town of Rokiskis at 52 million euros. Up 11.7 percent this year, the shares have gained 7.4 percent since Nov. 15 alone.
Rokiskio Suris had sales of 360.9 million litai ($134 million) in January to June, the same as AB Pieno Zvaigzdes, a dairy with almost twice the market capitalization. Some investors think Rokiskio is underpriced as one of Lithuania’s few listed companies that usually pay dividends, according to Arvydas Jacikevicius of AB SEB Bankas.
“The market obviously expects pretty good results,” Jacikevicius, senior broker at SEB in Vilnius, said by phone. “Some may also hope that after the earnings report on Nov. 30 the insiders who were buying shares last summer will start doing so again.”
Today’s trading volume of 31,848 shares was equivalent to 225 percent of the three-month daily average for Rokiskio Suris, according to data compiled by Bloomberg.