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Head’s Loss Widens Further as Costs Increase
Companies ♦
Published: November 10, 2011; 16:34 ♦ (Vindobona)
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The Dutch Vienna-listed sports equipment manufacturer generated a net loss of € 12.4m in the first nine months of the year.
Head’s Loss Widens Further as Costs Increase / Picture: © Vindobona.org
Group sales of Head NV for the first nine months of the year declined by 0.1% to € 218.1m. The adjusted operating profit for the nine months period declined by € 2.7m to € 871,000. This was mainly due to a negative € 1.5m impact of lower gross margins (41.4% in 2011 compared to 42.1% in 2010) as a result of higher raw material prices and higher selling and marketing expenses of…
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