Grigiskes, the largest Lithuania's hardboard and toilet paper manufacturer, will achieve 8 million litas (EUR 2.32 mln) in net profit on sales of 159 million litas in 2007, the analysts of Hansabankas, the leading Lithuania's commercial bank, project.

Dec 21, 2006. /Lesprom Network/. Grigiskes, the largest Lithuania's hardboard and toilet paper manufacturer, will achieve 8 million litas (EUR 2.32 mln) in net profit on sales of 159 million litas in 2007, the analysts of Hansabankas, the leading Lithuania's commercial bank, project. The relative indicators of share price performance prove that the company is well priced, the bank's analysts have said. Hansabankas has priced Grigiskes' share at 2.65 litas, 6.4 percent below the market level, considering the nearest performance outlook and risks, and applying the discounted cash flow method. The rise in natural gas prices might further undermine the expected performance figures of the hardboard and toilet paper manufacturer, the analysts of the bank noted. Grigiskes and its Baltwood subsidiary project a 33.5 percent rise, to 118 million litas, in consolidated sales in 2006. The net profit is expected to plunge 23.2 percent, year-on-year, to 7.7 million litas this year. Grigiskes' shares are quoted on the Current List of Vilnius Stock Exchange (VSE). Ginvildos Investicija is its largest single shareholder with a 47.29 percent stake. Rosemount Holdings holds 8.9 percent of the company, while Dailius Juozapas Miseikis, one of shareholders of the investment house Invalda, controls a 5.11 percent stake.