For its second quarter ended Sept. 30, Globeride, the Japanese parent of the Daiwa brand of golf and fishing products, reported a 28 percent increase in net income to 2,621 million yen (€20.1m-$23.8m) on 12 percent higher revenues of ¥31.69 billion (€240m-$288m). Sales were affected by Covid restrictions in Japan, where they were flat in the quarter, and in Australia. Sales went up by 63 percent in the Americas, but they remained higher in Europe, where they grew by 57 percent to ¥3.53 billion (€27m-$31m), and in Asia/Oceania, up 23 percent. The gross margin improved by 2.2 percentage points to 38.2 percent, but operating expenses grew by 3.2 percentage points faster than sales. The company has raised its guidance, predicting net income of ¥7.5 billion (€58m-$65m) on revenues of ¥117 billion (€900m-$1bn) for the full financial year. After the close of the quarter, Globeride carried out a two-for-one stock split on Oct. 2.

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