During the first half year of 2015, the sales of AB Utenos Trikotažas amounted to 7 million EUR and were 2.0% higher compared to the same period of 2014.
During the first half year of 2015, the consolidated sales of AB Utenos Trikotažas group amounted to 8.5 million EUR and were 4.8% lower compared to the same period of 2014.
During the first half year of 2015 AB Utenos Trikotažas incurred the loss from activities of 393,000 EUR, whereas in 2014 the profit of 59,000 EUR was made.
During the first half year of 2015 AB Utenos Trikotažas group incurred the loss from activities of 205,000 EUR, whereas in 2014 the profit of 354,000 EUR was made.
“After the shrinkage of the Russian retail market, a lot of our partners, European distributors of clothes, completely withdrew from the market, and the remaining European customers significantly decreased the orders of fashion and special clothing for the Russian market,” says Gintautas Bareika, Director General of AB Utenos Trikotažas. “However, even in such market situation Utenos Trikotažas managed to increase sales by focusing on more expensive production with a higher added value. We are implementing a long-term strategy with the most important aspects on implementation and creation of innovations, manufacture of products with a higher added value and development of our brands. This strategy allows an earlier reaction to change in different markets and at the same time demands investments both in production capacities and in a long-term marketing”.
The developed brands of AB Utenos Trikotažas have rapidly increased their sales during the 1st half year of 2015. The half-year sales of brands ABOUT and Utenos Trikotažas increased by almost 30% amounting to 0.9 million EUR, compared to the 1st half year of 2014.
Reacting to the changing customer demands and the market situation, Utenos Trikotažas began a modernisation programme, dedicated to the increase of production capacities and assortment of innovative materials.
It is expected that, after the implementation of this programme, in the second half year of 2015 the company will be able to offer materials with new digital decoration printing and materials enriched with additional functions with linen and elastane.
The value of the purchase of new equipment signed in June reaches 620,000 EUR. These investments will be funded with both company money and the money from an additionally granted long-term funding of the DNB Bank.
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
