The Finnish fishing gear maker’s net income attributable to shareholders plummeted 53% in the first half to €2.2 million ($2.5 mm) from €4.7 million despite revenues improving 4%, up 5% constant currency, to €125.5 million ($142.6 mm) against €120.5 million last year. Implied gross margin slipped 70 basis points to 56.0%, hurt by U.S. reciprocal tariffs, but operating expenses were kept in check, with personnel costs down 5%, while other operating expenses were reduced by 2% in the period.

North American sales grew 12% (+14% CC) to €69.0 million ($78.4 mm), buoyed ... Log in to view full article.