Fila Holdings reports strong Q1 results

2024.05.16 12:28:01 | 2024.05.16 12:34:36

[Courtesy of Fila Holdings Corp]이미지 확대

[Courtesy of Fila Holdings Corp]

Fila Holdings announced on Thursday that its consolidated operating profit for the first quarter of 2024 was 163.3 billion won ($122 million), up 1.8 percent from a year earlier. The company’s revenue also saw a significant uptick to hit 1.18 trillion won and was up 6.7 percent on year.

One of the company’s subsidiaries, Acushnet, posted a revenue of 939.9 billion won, or up 7.4 percent. Acushnet has performed particularly well in the North American market, with its golf balls and newly launched golf club models gaining popularity there, according to Fila.

Fila’s sector revenue was 242.7 billion won, up 4.1 percent from the previous year with Fila USA, which operates in the United States, seeing improved sales as discount sales decreased.

“Even as Korean and international consumption continues to slow down due to high inflation and interest rates, Acushnet’s continuous growth as well as cost savings in the sector and favorable exchange rate effects contributed to improved profitability,” Fila Holdings CEO Lee Ho-yeon said.

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