Sales of Utenos Trikotažas in Q1 rose 34.2 per cent over the corresponding period last year. The main driver for such a performance was a 48 per cent growth in sales of on-demand jersey products to its main export regions, Scandinavia, Germany, Austria, Switzerland. Exports made up 83 per cent of total group sales. But sales of its own brands -- Utenos and About -- posted only 2.4 per cent growth due to the unusually cold weather this March. Sales of services of functional-technical garment manufacturing by its subsidiary Satrija declined slightly 3.1 per cent. Utenos Trikotažas is the largest textile group in Central and Eastern Europe.
Rapid growth of sales and manufacturing was the key reason the group’s pre-tax profit almost doubled. Ebitda grew by 31.1 per cent. The group is making investments to expand manufacturing capacity and add new technologies in order to realize current growth opportunities as well as to strengthen its innovation capabilities. As a result, it expects to maintain significant double digit growth dynamics for the rest of 2018.
Despite higher level of raw materials and wages that it experienced this year the group observes positive dynamics in its order books and strong demand in its export markets.
