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Share Name | Share Symbol | Market | Type |
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Amp China Ord/Units (delisted) | ASX:AGF | Australian Stock Exchange | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.00 | - |
RNS Number:7325I Amer Group PLC 14 March 2003 14 March 2003 Amer Group Plc AMER GROUP'S CAPITAL MARKETS DAY 14 MARCH 2003 Amer Group is today holding its Capital Markets Day in Altenmarkt, Austria. Amer Group's CEO, Mr Roger Talermo, will update attendees from the investment community about the current outlook for the sporting goods industry. Industry growth has been slow in recent years but Amer Group believes that the industry's growth rate will pick up again in the future. Amer Group expects that it will be challenging to achieve rapid organic growth against this background, but the Group's healthy balance sheet and strong operating cashflow will enable it to continue its development of the business. Across the Group's divisions, sales of fitness equipment grew in January-February in line with expectations and also the Team Sports Division continued its good performance. In the golf equipment market, competition continues to be tough and as the new Northern Hemisphere golf season approaches, the Golf Division's sales have started more slowly than last year. The Racquet Sports Division's sales are slightly behind the level of 2002. The strong euro, especially against the US dollar, has had a negative impact on the Group's growth rates in the first quarter of 2003. Overall, the Group's first quarter net sales and operating profit are estimated to remain similar to 2002's levels. However, as stated on 6 February 2003, at the time of its 2002 results announcement, Amer Group's net sales and operating profit are expected to grow in 2003 as a whole. The Group's operations are balanced by its presence in all key markets and its broad portfolio of sports. Mr Talermo's presentation can be downloaded from the Group's website at www.amersports.com under Investor Relations / Documents. AMER GROUP PLC Communications Department Paivi Antola Communications Manager For further information, please contact: Mr Roger Talermo, President & CEO, tel. +358 9 7257 8210 Mr Pekka Paalanne, Senior Vice President & CFO, tel. +358 9 7257 8212 DISTRIBUTION: Hex Helsinki Exchanges Major media AMER GROUP PLC Amer Group is one of the world's leading sports equipment companies with its internationally recognised brands Wilson, Atomic, Suunto and Precor. All Amer Sports companies develop and manufacture technically advanced products that improve the performance of active sports participants. The Group's business is balanced by its broad portfolio of sports and presence in all major markets. In 2002 Amer Group made an operating profit of EUR 103.0 million on net sales of EUR 1,101.9 million. Earnings per share were EUR 2.95. At the end of 2002 the Company had 3,939 employees. This information is provided by RNS The company news service from the London Stock Exchange END MSCSFSSWLSDSESD
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