Children’s wear maker had a profitable year

The Estonian manufacturer of children’s outerwear Lenne boosted its net profit last year more than tenfold to 56.8 million kroons (EUR 3.6 mln) mostly thanks to cost-cutting and a 30% growth in export to Finland. The firm’s undistributed profit increased to nearly 184 million kroons of which owners withdrew 300 000 kroons in dividends.
Sales grew 8.8% to 135.4 million kroons. Expenses declined and operating profit more than doubled to 52.3 million kroons, Lenne’s financial statements for the 2009 business year reveal.
The sale of products to Finland accounted for most of last year’s turnover (96.7 million kroons). Sales on the domestic market gave 25.4 million kroons, 1.5 million kroons was generated in Latvia, and Lithuania contributed 400 000 kroons. Sales in Estonia grew by 13%.
Lenne’s business is designing and making children’s outerwear – jumpsuits, jackets, pants, headgear, and gloves and mittens. The company makes roughly half a million items annually, most of which is exported. Around one fifth of the output remains on the domestic market and is stocked by more than 40 stores, it appears from Lenne’s website.

Source: Estonian Review