Head Reported Lower Sales and Earnings

CompaniesOther ♦ Published: February 23, 2012; 16:26 ♦ (Vindobona)

The Dutch Ski producer, which has its production facilities in Austria, registered a decrease in sales of 1.3%. Higher amortizations caused a reduction in profits.

Head Reported Lower Sales and Earnings / Picture: © Vindobona.org

The year ended for Head down 1.3% in sales compared to the prior year driven by a decline in Winter Sports sales in the last quarter and exchange rate movements, with the US $ weakening against the Euro. On a constant currency basis sales would have been broadly flat.

Adjusted operating profit fell by € 8.3m due to a combination of lower sales and lower margins due…

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