Baltic States retailer Apranga has swung into first-half profit, despite reporting lower sales during the period.
Its consolidated revenue during the period was LTL127.9m (EUR37.1m) for the six months, decreasing 15.1% compared to the same period last year.
The company’s unaudited consolidated profit before income tax was LTL0.8m, compared to a loss of LTL13.2m in the same period of 2009.
Apranga currently operates a chain of 116 stores in the Baltic States, 75 in Lithuania, 31 in Latvia, and ten in Estonia. The company also operates Zara franchise stores in the Baltic States under an agreement with Spanish textiles firm Inditex.