Consolidated Group operating profit of 2013 was LTL 3.3 million (EUR 1.0 million), as in the same period in 2012 the Group incurred LTL 0.7 million (EUR 0.2 million) operating loss. Group incurred LTL 0.3 million (EUR 0.1 million) of pre-tax loss, as in the same period in 2012 the Group incurred LTL 3.6 million (EUR 1.0 million) loss before taxes. The consolidated Group results (precisely financial activity) were negatively impacted by LTL 0.9 million (EUR 0.3 million) of 2013 due to Ukraine currency exchange rate (UAH) fluctuation, as in the same period in 2012 the foreign exchange influence negatively impacted results by LTL 0.5 million (EUR 0.1 million). It is important to note, that it virtually had no effect on the Company or Group cash flows.
AB "Utenos trikotažas" incurred LTL 0.4 million (EUR 0.1 million) of operating loss of 2013, in the same period in 2012 the Company incurred LTL 4.4 million (EUR 1.3 million) operating loss. The Company incurred LTL 2.7 million (EUR 0.8 million) of pre-tax loss, as in the same period in 2012 incurred LTL 6.5 million (EUR 1.9 million) loss before taxes. Company results were negatively impacted by LTL 1.3 million (EUR 0.4 million) as additional write-offs were made for receivables from subsidiary OAO "MTF Mrija". It is important to note, that it virtually had no effect on the Company cash flows.
“Last year results were driven by the consistent strategic orientation towards new markets, new clients as well as research and development of the progressive innovative fabrics. All this allowed to significantly increase the operating profitability in the second half of the year at the same time discontinuing some less profitable orders. Newly introduced high added-value brand ABOUT Baltic Underwear (awarded by the gold medal of the Lithuanian Product of the Year 2013) was perceived well by consumers and contributed to the company‘s image as a modern, well-equipped, high quality manufacturer in the Central and Eastern Europe“, told Gintautas Bareika, Managing Director of AB Utenos trikotažas.
For more information please contact Mr. Gintautas Bareika, Managing Director of AB Utenos trikotažas, tel. No. 370 389 51445.
I, the undersigned, confirm that the above information is complete and true.
Managing Director AB “Utenos trikotažas” Gintautas Bareika
