Baltic Export, Good for Business, Lithuania, Markets and Companies, Textile

Utenos Trikotazas Group AB operating losses for the first quarter of 2015 was EUR 50,000, as in the same period in 2014 the Group earned EUR 182,000 operating profit. Utenos Trikotazas AB incurred EUR 146,000 of operating losses for the first quarter of 2015, as in the same period in 2014 the Company earned EUR 63,000 operating profit.

"The results of the group in the first quarter were influenced by both favourable and unfavourable factors. The rising dollar rate and ever-increasing appeal of Lithuanian manufacturers partially allowed us to counterweight the adverse factors that influenced our results.

The drop in Russian economics and the decreasing volume of sales of European companies (the customers of AB Satrija) operating in Russia – a direct result of rouble devaluation – caused slender results of the first quarter for the UT Group in comparison to the same period in 2014," says Gintautas Bareika, director general of Utenos Trikotazas AB.

The company plans that this focused activity will help to achieve better results in 2015.