Utena, Lithuania, 2016-04-29 15:30 CEST (GLOBE NEWSWIRE) -- Consolidated sales of AB Utenos Trikotažas Group for the I quarter of 2016 reached EUR 5.0 million, 14.4 % more than during the same period in 2015.
AB Utenos Trikotažas sales for the I quarter of 2016 reached EUR 4.2 million, 16.1 % more than during the same period in 2015.
Operating profit of AB Utenos Trikotažas Group for the first quarter of 2016 was EUR 94 thousand, as in the same period in 2015, the Group has suffered EUR 50 thousand of operating losses. The Group has suffered loss amounting to 50 thousand Euros before tax whereas the sum of suffered losses before tax in 2015 amounted to 486 thousand Euros.
AB Utenos trikotažas incurred EUR 31 thousand of operating loss for the first quarter of 2016, as in the same period in 2015 the Company incurred EUR 146 thousand of operating losses. The Company has suffered 54 thousand Euros of loss before tax, whereas the suffered loss before tax in 2015 amounted to 175 thousand Euros.
“Investment in the upgrading programme in 2015, in particular, the purchase of the only in the Baltic countries digital printing equipment, has enabled the company to expand the range of its production capabilities and to attract new customers and orders,” comments the performance Chief Executive Officer of AB Utenos trikotažas, Eimundas Mačiulis. “There has been a significant increase in sales of higher value added products, which means that we have succeeded to maintain the strategic area over the past year – to offer innovative and customised solutions to the continuously increasing number of target clients.”
Performance during the first months of 2016 was positively influenced by own brand sales. “For example, I quarter sales of About and Utenos trikotažas, compared to the previous year, has grown by more than 50 percent,” says pleased E. Mačiulis.
Over the year, the company produces more than 9 million meters of materials and sews over 3 million pieces of clothing. 90 percent of the company's goods are exported, mainly, to Germany, Austria, Sweden, and Switzerland.
AB Utenos trikotažas is one of few textile enterprises with a complete vertically integrated production cycle and capable of offering its clients a full range of services – from manufacture of yarn and materials required to a final product.
For more details on the material event, please contact Eimundas Mačiulis, Chief Executive Officer of AB Utenos trikotažas, by tel. +370 389 51445.
Chief Executive Officer AB Utenos trikotažas Eimundas Mačiulis
