‘Worst year in a decade’ for Amer Sports
09/02/2010
Global sports equipment maker Amer Sports, whose brands include Atomic, Salomon and Wilson, has reported a fourth-quarter profit figure that is more than double the figure for the same period last year.
Profits for the most recent quarter reached EUR 36.6 million, up from EUR 18 million for the same period last year, but Amer said this was largely on the back of cost cuts, and that it did not expect a quick recovery.
To emphasise the point, it said revenue had fallen by 3% to EUR 483 million.
After what it called the worst year in more than a decade, the Finnish company said its main priority was to improve profitability and continue tight cost control.
“As a whole, last year was a very challenging one due to the recessionary environment,” said acting chief executive, Pekka Paalanne. “Our key priority in 2009 was to strengthen the balance sheet, and in this task we exceeded our own plans.”
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