Globeride Net Income Halved in Q1
The Japanese parent of Daiwa fishing and golf saw profit attributable to shareholders drop to ¥1,650 million ($10.6 mm) from ¥3,514 million in the fiscal first quarter ended June 30, as revenues slipped 8% to ¥31,481 million ($201.9 mm) from ¥34,116 million. Gross margin contracted 90 basis points to 38.0%, while SG&A was up 7% in yen, deleveraging 420 b.p. ... Log in to view full article.
