Nordic Business Report-November 2, 2006-Rapala VMC Corporation reports 9-month operating profit of EUR21.0m
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Finnish fishing lures manufacturer Rapala VMC Corporation reported on Thursday (2 November) an operating profit of EUR21.0m on net sales of EUR177.4m for the financial period January-September 2006.
Both operating profit and net sales for the nine-month period increased, respectively from EUR18.8m and EUR151.3m, as compared to the corresponding period in 2005.
Operating profit for the quarter July-September 2006 amounted to EUR2.8m on net sales of EUR49.9m. Earnings per share (EPS) for the third quarter of 2006 amounted to EUR0.01.
The company expects its net sales for the financial year 2006 to be somewhat above EUR220m. Operating profit is expected to be in absolute terms above last year's level but achieving the 2005 operating margin level will be challenging, Rapala VMC said.
Rapala VMC, headquartered in Helsinki, Finland, manufactures lures and other fishing gear in Finland, France, Ireland, Estonia and China. The company has just under 4,000 employees and reported net sales of EUR196.1m in 2005. Rapala VMC is listed on the Nordic Exchange in Helsinki.
One British pound (GBP) is worth approximately 1.48 euros (EUR).
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