Utena, Lithuania, 2016-10-31 07:00 CET (GLOBE NEWSWIRE) -- At the end the third quarter of 2016, AB “Utenos trikotažas“ group earned EUR 994 thousand of operating profit – it is three times more than at the same period last year (EUR 329 thou.). Group profit before tax amounted to EUR 820 thousand compared to EUR 76 thousand last year.
Consolidated group sales compared with the same period of 2015 grew by 18.7 % and reached EUR 16.7 million.
At the end of September, 2016, the sales of AB "Utenos trikotažas" amounted to EUR 14.4 million and were 19.5% higher compared to the third quarter of 2015. During the 9 months of 2016, AB "Utenos trikotažas" earned EUR 469 thousand of operating profit, whereas in 2015 it reached EUR 64 thousand. Company earned EUR 391 thousand of profit before tax, whereas in 2015 the profit before tax was EUR 7 thousand.
“Significant growth momentum we experience this year is a result of consistent implementation of our revised business strategy. In recent years we have been actively investing in the development of innovative fabrics and attracting new target clients. Focus on improving production efficiency allows us to manage increasing demand for our products” - says Algirdas Šabūnas, Managing Director of AB “Utenos trikotažas“.
AB “Utenos trikotažas“ is a part of SBA concern. The group consists of three companies - “Utenos trikotazas“,“Šatrija“, “Gotija” and “Mrija“ (Ukraine).For more information:AB “Utenos Trikotažas“
Managing Director Algirdas Šabūnas
Tel.: 8 389 51445
