Fila Net Slips in Q1 Despite Acushnet Boost
Overall profits declined by 8% in the first quarter to KRW 123,092 million ($102.1 mm) from KRW 134,201 million last year, but double digit growth from Acushnet sent the top line 9% higher to KRW 1,073,563 million ($890.7 mm) from KRW 988,281 million.
Net income attributable to shareholders grew six-fold to ¥1,277 million ($11.0 mm) from ¥211 million in the final fiscal quarter ended Mar. 31, on 7% higher revenues of ¥32,211 million ($277.2 mm) up from ¥30,224 million.
Net income at Giant Group increased 7% to TWD 1,913.5 million ($64.2 mm) in the first quarter from TWD 1,792.5 million, on 8% higher sales of TWD 22,260.3 million ($747.2 mm) against TWD 20,617.5 million.
Bemis, which manufactures thermoplastic films, tapes and adhesives for various industries, including sportswear and outerwear, has acquired France-based manufacturing company, Protechnic.