Intersport PSC reported a 16.7 percent drop in consolidated sales to 112.5 million Swiss francs (€108.9m-$118.7m) for the first six months of its financial year, ended on March 31, and its new management is forecasting a slight decline for the full year. However, the Intersport licensee for Switzerland enjoyed a 25.6 percent increase in net profit to CH 2,249,000 (€2.2m-$2.4m) for the six-month period. The gross profit fell by only 4.7 percent to CH 8,095,000 (€7.8m-$8.6m), in spite of the big drop in revenues. The operating profit (Ebit) increased by 21.8 percent to CH 2,238,000 (€2.2m-$2.4m), thanks to cost controls and the writeoff of a provision of CH 672,000 (€650,749-$710,036) following an out-of-court settlement with a former retail member.

Topics