Lithuanian knitwear producer reduces losses by 20%
In the first nine months of 2023, Lithuanian knitwear manufacturer Utenos Trikotažas, part of the SBA Group, reported revenues of €17.2m (US$18.4m), a 34.7% decrease compared with the previous year when sales amounted to €26.3m (US$28.1m).
Despite the decline in sales, pre-tax losses in the first nine months of 2023 were 20% lower than the previous year, totalling €1.3m (US$1.4m).
For the full story, see the December 2023 edition of Textiles Eastern Europe.
Photo: Utenos Trikotažas