Leading Lithuanian knitwear manufacturer Utenos Trikotazas today posted a nine per cent increase in sales for the first 10 months of the year, coming in at 111.3 million litas (US$27.83m).

Monthly sales for October were up 32.4 per cent year-on-year at 9.8m litas, while exports to western Europe were up eight per cent thanks to an increase in sales in both Germany and Spain.

The company is now forecasting annual sales of 125m litas for 2001, representing potential growth of 2.1 per cent on 2000. Net profit target has been set at 11.2m litas, down 22.3 per cent.