Amer Sports results disappoint

Finnish sporting goods group Amer Sports reported fourth-quarter profit slightly below forecasts yesterday and said pressure on margins would continue.

“Gross margin remains a challenge in light of labour and raw material cost increases but we have mitigation plans in place,” the company said. The owner of the Wilson and Atomic brands posted underlying operating profit up 26 per cent to €56.0m (£47.3m) from €44.4m a year ago. Net sales rose 21 per cent to €583m, topping forecasts for €552m.