JAPAN: Asics 9-month profit surges on running boom
- Net profit up 19.6% to JPY14.97bn, nine months to 31 December
- Net sales up 25.1% to JPY238.3bn
- Overseas sales surge 35.5% to JPY172m
Sporting goods business Asics posted a near-20% surge in net profit for the last nine months of 2013, boosted by strong overseas sales and a running boom.
The company is now forecasting full-year net profit of JPY15bn (US$148m) and revenues of JPY327bn following sales increases of 4.2% and 35.5% for its domestic and overseas markets respectively.
“In the sporting goods industry, business was steady on the back of a high level of interest in sport owing to rising health consciousness, as well as a running boom,” the Japanese company said.
In Japan, revenues were boosted by steady sales of walking shoes and Onitsuka Tiger shoes, as well as the expansion of Asics’ store base and strong sales of running shoes and baseball equipment.
Meanwhile, overseas sales were driven by strong growth for running shoes in the Americas, Europe and other regions, as well as the effects of foreign exchange rates.
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