Profit for the 1st quarter, 2006 (unaudited)
Differently from the long term practice of apparel
trading Apranga group has reached positive result
and has earned LTL 1448.3 thousand (EUR 419.5 thousand)
unaudited profit before taxes in 1st quarter, 2006.
Apranga group has suffered LTL 572.1 thousand
(EUR 165.7 thousand) loss in 1st quarter, 2005.
Apranga group turnover amounted to LTL 57840 thousand
(EUR 16752 thousand) in 1st quarter, 2006, and was higher
by 41.3% comparing to 1st quarter, 2005.
Higher than planned results were reached due to
development of retail network and assortment, which
was favorably accepted by customers, successful
operation of both new and older shops, more efficient
management of inventory and sell-outs, formation of
supply capable to meet growing market demand.
Apranga group plans to maintain high turnover growth
and intense expansion rates. There are plans to open
around 25 new stores with total area of 15000 sq. m only
in 2006, and investments will amount to LTL 30 million
(EUR 8.7 million).
Apranga group has strategic goal to reach turnover of
LTL 500 million (EUR 145 million) already in 2008,
i.e. to increase sales by 2.5 times in 3 years.
Rimantas Perveneckas
General Manager
+370 5 2390 808
