Accell Group expects to post higher sales for the second half of its financial year in all its product groups and in the major markets. Poor spring weather inflated inventories and led to strong discounting. Pre-season orders for new bikes have declined as retailers have frequently moving them to next spring, but stock levels have since returned to normal, the Dutch bicycle group reports. For the full year, sales should be higher than in 2012 on an organic basis and including acquisitions. Operating profit should be stable but margins will be down net earnings will be lower due to exceptional charges linked with the shutdown of manufacturing facilities in Canada and the reorganization of its Dutch operations. The medium to long term remains positive.

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