New Wave Group reports a 21 percent sales increase to 1,096 Swedish kronor (€117.6m-$131.3m) for the first quarter, with a 9 percent gain in local currencies. The gross margin improved to 45.7 percent and operating profit grew by SEK 7.7 million, resulting in an operating margin of 0.2 percent compared with a negative margin of 0.7 percent in the year-ago period. Due to high investments and currency exchange losses, the company booked a net loss of SEK 10.9 million (€1.17m-$1.31m), down from SEK 11.3 million. The group's Sports & Leisure segment, which includes Cutter & Buck and Craft, raised its sales by 19 percent to SEK 523 million (€56.1m-$62.7m), with growth mostly in the Nordic countries and the rest of Europe. It generated earnings before amortization (Ebitda) of SEK 24.6 million (€2.64m-$2.95m), up from SEK 18.9 million. The management thinks that the segment should be able to do better in the future.