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2011-05-31 15:38:26 CEST 2011-05-31 15:39:25 CEST REGULATED INFORMATION Utenos Trikotazas AB - Interim informationActivity results for the 3 months of 2011Consolidated Group sales for the I quarter of 2011 reached LTL 17.8 million (EUR 5.1 million), 4,2% more than during the same period in 2010. The Group earned LTL 0,8 million (EUR 0.2 million) profit from typical operations and incurred LTL 1 million (EUR 0.3 million) of pre-tax loss, and in the same period in 2010 earned LTL 0.4 million (EUR 0.1 million) profit from typical operations and LTL 1.3 million (EUR 0.4 million) of pre-tax profit. Company “Utenos trikotažas" sales for the I quarter of 2011 reached LTL 15 million (EUR 4.3 million), 4.3% more than during the same period in 2010. The Company earned LTL 0.6 million (EUR 0.2 million) profit from typical operations and LTL 0,08 million (EUR 0.02 million) of pre-tax profit, and in the same period in 2010 earned LTL 0.3 million (EUR 0.1 million) profit from typical operations and incurred LTL 0.2 million (EUR 0.05 million) of pre-tax loss. The consolidated Group results were positively impacted by LTL 1,2 million (EUR 0,3 million) for the I quarter of 2011 due to Ukraine currency exchange rate (UAH) fluctuation. It is important to note, that it virtually had no effect on the Company or Group cash flows. “Revenue growth in the first quarter of 2011th is the result of the focus on the clients demanding higher value added, ecological, high quality products. Another important and favorable trend is the consistently growing demand for ecological products, sales of which have increased by almost 50 % in this quarter”, - says General Manager of the company Utenos trikotažas Nerijus Vilūnas. Revenues from Lithuanian market have recorded strong growth of approximately 25% as the result of intensified marketing efforts of our branded Rokas, Gunda or Eko product lines which we distribute through the network of our partners in Lithuania and Maxima stores. As of May consumers can find our collections in Apranga and Miglė shops too. “Profit wise, the company and the group posted positive operating profit, LTL 0,6 million and LTL 0,8 million respectively, despite record high cotton prices. Recently, one could observe downward trend in cotton prices. It is worth noting, that the subsidiary AB “Šatrija” have improved its performance, posting 0,1 million Litas operating profit for the first quarter 2011th, while for the same period in 2010th it incurred 0,05 million Litas operating loss”, - says N. Vilūnas. AB “Šatrija” specializes in highly complex, technically advanced, specialized work-wear (designated for fire brigades, army, pilots etc.), active leisure wear and extreme sports clothing (designed for yachtsman, skiers etc.). For more information please contact Mr. Nerijus Vilūnas, General Manager of AB „Utenos trikotažas“, tel. No. +370 389 51445. I, the undersigned, confirm that the above information is complete and true. General Manager AB „Utenos trikotažas“ Nerijus Vilūnas |
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