A/S Ventspils Nafta, a Latvian port and terminal operator, said first-quarter profit fell 59 pct after losing money on currency fluctuations.
Net income fell to LVL 3.3 million in the first three months from LVL 8.1 million a year earlier, the company said in a statement to the Riga Stock Exchange. Revenue declined 7.6 pct to LVL 22.3 million.
Ventspils Nafta lost LVL 4.3 million due to the weakening of the dollar, Baltic Business News reports according to RZD-Partner.
Net income fell to LVL 3.3 million in the first three months from LVL 8.1 million a year earlier, the company said in a statement to the Riga Stock Exchange. Revenue declined 7.6 pct to LVL 22.3 million.
Ventspils Nafta lost LVL 4.3 million due to the weakening of the dollar, Baltic Business News reports according to RZD-Partner.