For the 9 months of 2015, the sales of AB Utenos Trikotažas amounted to 12 million EUR and were 0.9% higher compared to the same period of 2014.
For the 9 months of 2015, the consolidated sales of AB Utenos Trikotažas group amounted to 14.1 million EUR and were 4.9% lower compared to the same period of 2014.
For the 9 months of 2015 AB Utenos Trikotažas made an operating profit of 64,000 EUR, whereas in 2014 the company made an operating profit of 668,000 EUR.
For the 9 months of 2015 AB Utenos Trikotažas made an operating profit of 329,000 EUR, whereas during the same period in 2014 the company made an operating profit of 1 216,000 EUR .
"The operating result of AB Utenos Trikotažas for the 9 months is still influenced by the effects of Russia's economic turbulence to the company's export. However, by promptly responding to the changing needs of our main customers and consistently implementing the company's long-term strategy, we have managed to stabilize the increase in operating costs and make a profit," – says Eimundas Mačiulis, the Managing Director of AB Utenos Trikotažas.
After the shrinkage of Russia's retail market, a part of the largest customers of Utenos Trikotažas either left the Russian market or significantly reduced their fashion and special clothing orders. It was possible to compensate these changes by implementing the needs of the company's current customers more flexibly, by attracting new customers and with the growing demand of own brands.
The sales of brands owned and developed by the company - ABOUT and Utenos Trikotažas - have increased by 40 percent during the 9 months of 2015, compared to the same period of 2014.
Utenos Trikotažas is consistently implementing its long-term strategy whose main directions are the development and implementation of innovations, the production of products with a higher added value and the development of own brands. This strategy enables to more flexibly respond to changes in certain markets, and it also demands investments – both in production capacity, as well as in long-term marketing. The modernization programme intended for increasing production capacity and the range of innovative materials was started this year and is now nearly finished. Soon the company will be able to offer its customers materials with new digital printing decorations, as well as materials with linen fibre and elastane that are enriched with additional functions.
For more information, please contact Eimundas Mačiulis, the Managing Director of AB Utenos Trikotažas, tel. 8 389 51445.
I, the undersigned, confirm that the above information is complete and true.
Managing Director of AB Utenos Trikotažas Eimundas Mačiulis
