Amer chief predicts winter sports boost - sportstextiles: Lea SportsTextiles

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Amer chief predicts winter sports boost

30/10/2008

Roger Talermo, president and chief executive of Finland-based Amer Sports Corporation, has said in announcing his company's results for the first three quarters of 2008 that his company has achieved similar levels of sales to last year's, but that currency effects mean a net sales reduction of 6%.

Mr Talermo said: "Amer Sports' business developed in the third quarter according to our expectations except for the fitness segment. The high-season for winter sports equipment shipments to retailers started somewhat later than last year and consequently our sales in local currencies were 13% lower in the quarter compared with last year. Thanks to clearly more pre-order deliveries booked for Q4 and as a result of already completed profitability-improving measures, the winter sports equipment business is set to improve its profitability substantially already this year."

He went on to say that the company's ball sports segment had had a solid third quarter, with Wilson Golf on track to reach positive numbers for the full year. Success in apparel and footwear business continued with both sales and earnings growing more than 20% in the third quarter. This is primarily the result of the performance of two brands: Salomon and Arc'teryx.

Mr Talermo said he anticipated full year profits of between EUR 80 and 90 million.


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