Rapala Q1 profits higher year-on-year on improved margins |
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Published
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Thu, 26 Apr 2007 08:58
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HELSINKI (Thomson Financial) - Finnish fishing tackle manufacturer Rapala Oyj posted an increase in first quarter earnings on improved margins, despite the weakening of the US dollar and slow sales in winter fishing and sport equipment.Pretax profit for the quarter grew to 11 mln eur, up from 7.8 mln eur a year before.January-March earnings per share were 0.20 eur against 0.15 eur.Quarterly sales were flat year-on-year, recording 63.4 mln eur.Looking ahead, it reiterated its sales growth forecast of 5 to 10 pct for 2007.It also revealed that the launch of its new products for the 2008 season will take place during the second quarter.azer.sawiris@thomson.comafs/bsdCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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