Amer Sports reports Q3 net profit of $77m
Finish sports equipment maker Amer Sports, whose brands include Atomic, Salomon and Wilson, saw third-quarter net profit grow 16% to EUR55.3 million ($77 million) on surging sales.
The Finnish company said that revenue in July through September increased 20% to EUR560 million ($779.91 million), from EUR467 million a year earlier. Net profit in the period in 2010 was EUR47 million.
CEO Heikki Takala said the “strong period with good growth” was boosted by earlier deliveries compared to last year, especially in winter sports and apparel, but that an “overall soft tennis market” had hit the racket sector.
“We stay on the path set last year as our strategy is working,” Mr Takala said. “We continue executing the strategic programs guided by our financial targets, with strong focus on synergies, internal improvement and organic growth.”
Amer, which traditionally has its strongest quarters in the second half of the year, said it expects full-year sales to grow by some 9% and profitability to improve, buoyed by growth in winter sports equipment pre-orders and better efficiency.
