The  profit  of  the Stock Company Ventspils nafta within the first six

months of 2004 - 1.3 million lats 



Today,  on  19  August 2004, the Council of the Stock Company Ventspils

nafta  reviewed and took cognisance of the company's six months results

of  the  financially  economic  activities.  The  net  turn-over of JSC

Ventspils  nafta  concern  in January-June 2004 has achieved 27 million

lats, net profit amounting to 1.3 million lats.



The profit of the first half of the year exceeds the forecasted amount.

According  to  the  budget  of  JSC  Ventspils  nafta , approved at the

company's  shareholders'  meeting,  the  net turn-over of JSC Ventspils

nafta  this year is planned 55.5 million lats, but the net profit - 176

thousand lats.



Olga  Pētersone, the President of JSC Ventspils nafta , emphasizes that

the  results  of  JSC Ventspils nafta in the first half of the year are

better  than planned earlier, and it proves that the development of JSC

Ventspils nafta concern as a multibranch concern is stable.



Within  the  first  six  months  of  2004  JSC  Ventspils nafta concern

continued to operate in the following main business directions: transit

of  oil and oil products (Ventspils nafta termināls LLC and LatRosTrans

Ltd.);  printing  and  publishing  (JSC  Preses  nams); development and

managing  of  real  estates (Rīgas līcis LLC, Nekustamie īpašumi VN LLC

and its subsidiary companies); publishing (Mediju nams LLC).



Within  the  first  six  months  of  2004 Ventspils nafta termināls LLC

continued  previous  operation  receiving oil and oil products (gas oil

with  different  sulphur  content, different grade vehicle gasoline) by

railway  and  transhipping.  Attracting  efficiently diverse assortment

cargo and optimally using the terminal's capacities, in the second half

of 2004 Ventspils nafta termināls LLC plans to start operation of a new

railway  rack corresponding to the most sophisticated technologies with

the  capacity  of  4.5 million tons of crude oil or 5.5 million tons of

gas  oil  per  year,  that  will  allow the terminal to undertake a new

service - receipt of different quality oil.



In  2004 LatRostRans Ltd. continues to ensure a stable operation of the

main  oil  and  oil  products  lines and plans to increase the delivery

amounts,  intending to transport in the Ventspils direction 6.5 million

tons  of gas oil per year. It is a significant transportation increase,

that  will  be  ensured  by  LatRosTrans  by  new production capacities

available  as  a result of the company's modernization and introduction

of  technological  innovations.  The  investment  programme for 2004 of

LatRostRans Ltd . envisages implementation of several new modernization

projects  -  including  also construction of a new oil products pumping

station   and   bypassing   pipelines.   LatRosTrans  Ltd  .  continues

implementing  purposeful  activities  for elimination of gas oil losses

from the oil products pipeline.



The  largest  printing company of the Baltic states - JSC Preses nams -

continued  to  operate  actively  within the reporting period rendering

printing and publishing services, strengthening its position in issuing

of  newspapers,  magazines,  books and wrapping material for clients in

Latvia  and  abroad.  Already  after  the  reporting  period as the new

Chairman  of  the  Board  of  JSC Preses nams was approved Uldis Ronis,

previously  working  in the position of the director for development of

JSC  Hanzas  maiznīca  .  The  change  of  the Chairman of the Board is

connected  with structural alternations in the company, looking towards

achievement  of  new  strategic  goals.  The new strategic tasks of JSC

Preses  nams  are directed towards strengthening of the achieved market

position  and  improving  of  financial results, that is why it is very

important  to have in the company's management the specialists with the

knowledge of marketing and company development planning.



JSC "Ventspils nafta" non-audited financial report for 6 months of 2004

available here: <a href='http://www.rfb.lv' target='_blank'>http://www.rfb.lv</a> /public/vertspapiri/35270.html?language=2