Luganskteplovoz (LTPL) Sales Down By 48% YoY In 1Q05 To USD 11.8 Mn
9 June 2008
The company said the decrease was due to political changes in Ukraine at the end of 2004, resulting in lower orders in 1Q05. Additionally, the main consumer of Luganskteplovoz’s products, Ukrzaliznytsya, decreased orders in Q105, while production capacities were under utilized. Also, sales decreased compared to last year, because a contract for the delivery of locomotives to Iraq ended in 2004.
