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Article Date: July 2023
Word Count: 321

Rapala VMC Swings to Loss in H1


The Finnish fishing equipment maker warned of worsening market conditions last month, and has now reported a loss of €1.1 million ($1.2 mm) for the first half of 2023, against a profit of €8.7 million prior, on 21% lower revenues of €117.9 million ($128.3 million) down from €148.4 million. Elevated inventories at both wholesale and retail have continued to pressure the top line, and the marketplace is taking longer than expected to clear out the excess stocks. The trend should improve in the back half of the year, but pre-sales of ... Log in to view full article.

 


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