Le Coq Sportif, the French sports brand, continued its growth spurt with a sales increase of about 10 percent to €23.9 million for the first quarter of this year. Direct revenues jumped by 19 percent and wholesale sales inflated by 21 percent, but royalties decreased by 19 percent. Owned at 69 percent by Airesis, a Swiss holding company, Le Coq Sportif managed a gross margin of 52 percent for the quarter, up from 47 percent at the same time last year, and it ended the three months with a net profit of nearly €2.9 million, against less than €0.8 million the previous year. Meanwhile, Boards & More, the Austrian board sports company fully owned by Airesis, increased its sales by 11 percent to €7.8 million for the quarter. Its gross margin was up by 4 percentage points to 45 percent, and its net profit landed at nearly €0.7 million. The combined net profit attributable to Airesis amounted to 3.9 million Swiss francs (€2.7m-$3.4m) for the quarter.