Utenos Trikotazas - Interim information

AB “Utenos trikotažas“ group operating profit grew by three times

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

Attachments:

Confirmation of responsible persons.pdf

Interim financial statements 2016 IIIQ.pdf