Turnover of the LUG S.A. Capital Group has increased by 41% to over 20,5 million PLN in 3Q 2010

The LUG S.A. Capital Group has announced the sales incomes of 20,5 million PLN and net profit of 508 thousand PLN for the 3rd quarter 2010, comparing to the sales incomes at 14,5 million PLN and 1 million PLN of net loss for a parallel period in 2009. Overall, after nine months of 2010, LUG generated 55,5 million PLN of sales incomes, what is more at 26% than in parallel period in 2009. Net profit is 639 thousand PLN, comparing with a 2,6 million PLN loss in the previous year.

-„The previous quarter was a turning point in our history, in general thanks to the fact we came back to a profit path. In 3rd quarter we could notice the continuity of this trend, what is visible at the profit level, what amounted 508 thousand PLN. For a parallel period in 2009, we generated 1 million PLN of net loss. Furthermore, this positive change is visible within the first nine months period , which we have been closing announcing a net profit of 639 thousand PLN, comparing with 2,6 million PLN lost in a previous year. Such significant increase is an outcome of increasing demand in lighting industry, what is related with economic growth enhancement as well as with numerous lighting projects that have turned into realisation, after its temporary hold-on in 2009. This tendency was noticeable already at the beginning of the 2nd quarter this year, thereby in the middle of year we made some significant investments in machinery (inter alia thanks to the C series shares issue of the total value 5,4 million PLN). In result, this allowed us to increase our production capabilities and further to complete successfully the growing volume of orders placed for our lighting systems and solutions” – says Mr. Ryszard Wtorkowski, President of the LUG S.A. Board of Directors.