Amer Group results for the 1998 financial year
Operating profits MFIM 133 (1997: MFIM 77 million). Net sales MFIM 4,432 (MFIM 4,694). Profit before extraordinary items MFIM 32 (a loss of MFIM 53). Adjusted earnings per share FIM 0.70 (losses of FIM 3.00). A dividend of FIM 1.00 a share proposed. The objective for 1999 is to further improve performance and boost market shares.
* Amer Group's performance was as planned in 1998. Operating profit amounted to FIM 133 million (1997: FIM 77 million). Adjusted for discontinued operations, comparable operating profit in 1997 was FIM 18 million. Profit before extraordinary items totalled FIM 32 million, compared to a loss of FIM 53 million in 1997. Adjusted earnings per share were FIM 0.70 (1997: a loss of FIM 3.00).
* Wilson is back on track with all of its divisions in the black. The Golf and the Team Sports Divisions both improved their performance significantly. Moreover, Atomic's alpine skis' profitability improved considerably. However, due to weak market conditions and reorganisation, Oxygen's in-line skate business generated a heavier loss than anticipated and, as a result, the Atomic Companies remained clearly in the red.
* The reorganisation of Atomic and the Köflach factory, which manufactured in-line skates, was completed last year. The industrial risk associated with the in-line skate business has been eliminated and, in the future, skates will be sourced from Asian subcontractors. The in-line skate business will no longer burden the Group's result significantly in the current year.
* The most rapidly growing product categories were alpine skis (+35%), premium golf clubs (+42%) and basketballs (+39%).
* Overall, Amer Group's performance has turned around. In the next phase it is time to concentrate on seeking profitable growth and boosting market shares.
The full report including tables can be downloaded from the enclosed link.
* Amer Group's performance was as planned in 1998. Operating profit amounted to FIM 133 million (1997: FIM 77 million). Adjusted for discontinued operations, comparable operating profit in 1997 was FIM 18 million. Profit before extraordinary items totalled FIM 32 million, compared to a loss of FIM 53 million in 1997. Adjusted earnings per share were FIM 0.70 (1997: a loss of FIM 3.00).
* Wilson is back on track with all of its divisions in the black. The Golf and the Team Sports Divisions both improved their performance significantly. Moreover, Atomic's alpine skis' profitability improved considerably. However, due to weak market conditions and reorganisation, Oxygen's in-line skate business generated a heavier loss than anticipated and, as a result, the Atomic Companies remained clearly in the red.
* The reorganisation of Atomic and the Köflach factory, which manufactured in-line skates, was completed last year. The industrial risk associated with the in-line skate business has been eliminated and, in the future, skates will be sourced from Asian subcontractors. The in-line skate business will no longer burden the Group's result significantly in the current year.
* The most rapidly growing product categories were alpine skis (+35%), premium golf clubs (+42%) and basketballs (+39%).
* Overall, Amer Group's performance has turned around. In the next phase it is time to concentrate on seeking profitable growth and boosting market shares.
The full report including tables can be downloaded from the enclosed link.