HELSINKI Feb 9 Finnish sporting goods maker
Amer Sports on Thursday reported fourth quarter sales
and operating profit below market expectations and said its
would start a new cost-cutting programme due to difficult market
The maker of Wilson tennis rackets and Salomon skis posted
adjusted operating profit of 81 million euros ($87 million) in
the quarter, below 84 million a year earlier and an average
forecast of 90 million in a Reuters poll of
Net sales were down 2 percent year-on-year, partly because
the winter sports market season had peaked already before the
fourth quarter, the company said in a statement.
Amer said it would expand its on-going restructuring program
and cut expenses worth about 100 operating margin basis points
in the next two years.
Amer Sports shares were down 8.8 percent at 1115 GMT.
($1 = 0.9358 euros)
(Reporting by Tuomas Forsell, editing by Jussi Rosendahl)