The Apranga Group has suffered a loss of LTL 10.0 million (EUR 2.9 million) in
first quarter 2009.
The main reasons of unprofitable performance were:
- The sales of the retail chain of Apranga Group were affected by the drop in
the Baltics market more than anticipated;
- The Apranga Group pursued more aggressive discounted sales seeking
inventories optimisation and under difficult competitive situation, what
adversely affected gross margin;
- The decrease of the shops' efficiency caused by sudden drop in like-to-like
sales.
The consolidated interim financial statements for 3 months 2009 of Apranga
Group, as well as managers' confirmation letter are ready for acquaintance (see
attachments). The interim information is also available at
www.apranga.lt/investuotojams.
Shares of Apranga are listed on Baltic equity list on NASDAQ OMX Vilnius Stock
Exchange. Majority shareholder of Apranga Group is concern MG Baltic.
Rimantas Perveneckas
Apranga Group Director General
+370 5 2390801
