Skis Rossignol 1st-Half Net Soars; Expects Full-Year Profit
Paris, Dec. 6 (Bloomberg) — Skis Rossignol SA, a French sports-equipment maker, said first-half earnings grew seven-fold, buoyed by sales of snowboards and golf clubs, as well as efforts to slash production costs.
The maker of Cleveland golf clubs and Rossignol skis said net income rose to 9.7 million euros ($9.9 million) in the six months ended Sept. 30, up from 1.4 million euros a year earlier.
Skis Rossignol said it expects to post a profit for the full year, compared with a 14 million euro loss a year earlier, and predicted sales would probably rise by about 10 percent this year.
“The group’s situation at the end of the first half presented itself as a significant step in the recovery expected for the full year,” the company said in a statement.
Sales rose to 160.8 million euros in the first half, up from 142.9 million euros a year earlier, the company said.
Skis Rossignol shares rose 0.3 euro, or 2 percent, to 15 euros. They’ve gained 20 percent this year. Earnings were released after the close of trading.