May 07, 2021
A huge rebound in Greater China powered the first quarter, as net income attributable to shareholders expanded to €558 million ($665 mm) from just €31 million last year, on 20% higher revenues of €5,268 million ($6,279 mm) up from €4,381 million, that were up 27% in local currencies.
Dorel’s sports segment generated an operating profit of $21,803,000 in Q1 against a loss of $611,000 last year, as revenues soared 44% to $270,309,000 from $188,188,000.
Net income grew by 37% to $27,834,000 in the fiscal second quarter ended Apr. 2 from $20,387,000 last year, as revenues increased 26% to $206,156,000 against $163,084,000 boosted by consumer enthusiasm for outdoor activities.
Four years after acquiring the New Zealand brand of merino-wool apparel, VFC will be splitting Icebreaker into three entities, according to reports in the NZ Herald.