Financial statements for the I quarter of 2012
Consolidated Group operating loss for the first quarter of 2012 was LTL 1.1 million (EUR 0.31 million), as in the same period in 2011 the Group earned LTL 1.3 million (EUR 0.37 million) of operating profit. The Group incurred LTL 2.3 million (EUR 0.66 million) of pre-tax loss, as in the same period in 2011 the Group incurred LTL 0.6 million (EUR 0.18 million) loss before taxes.
AB "Utenos trikotažas" operating loss for the first quarter of 2012 was LTL 1 million (EUR 0.28 million), as in the same period in 2011 the Company earned LTL 1.1 million (EUR 0.31 million) operating profit. The Company incurred LTL 1.5 million (EUR 0.44 million) of pre-tax loss, as in the same period in 2011 earned LTL 0.5 million (EUR 0.13 million) profit before taxes.
The consolidated Group results (precisely financial activity) were negatively impacted by LTL 0.6 million (EUR 0.17 million) for the three months of 2012 due to Ukraine currency exchange rate (UAH) fluctuation, as in the same period in 2011 the foreign exchange influence was negative and reached LTL 1.2 million (EUR 0.34 million). It is important to note, that it virtually had no effect on the Company or Group cash flows.
“The Group’s operating results were resulted, as it was previously commented, by the lower sales level to price-sensitive retail clients.
Currently the dynamics of incoming orders shows the sales growth and we expect better operating results in the second quarter of this year compared with the first one."- says AB “Utenos Trikotažas” Managing Director Gintautas Bareika.
For more information please contact Mr. Gintautas Bareika, Managing Director of AB Utenos trikotažas, tel. No. 370 389 51445.
I, the undersigned, confirm that the above information is complete and true.
Managing Director AB Utenos trikotažas Gintautas Bareika
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