The surfing division of the Lafuma group, which is essentially represented by Oxbow, raised its turnover by 6.0 percent to €26.8 million last year, while its operating profit moved up by 14.2 percent to €5.8 million. The French company described this as a significantly positive performance, with a return to growth and durable results. The Lafuma group's total sales slumped by 3.9 percent to €160.5 million, but the company attributed the dip to the restructuring of its distribution in Hong Kong and the U.S. market. Excluding the end of distribution through the company's stores in Hong Kong, sales would have moved up by 0.5 percent. The restructuring measures taken in the mountain sports division, with the Millet, Eider and Lafuma brands, caused a sales decline to €95.7 million for the year. But again, the division's turnover would have increased by 0.8 percent without the impact of these measures and in constant currencies. The outdoor furniture division's sales dipped by 1.1 percent to €38.0 million. The restructuring moves did contribute to a jump of 67.6 percent in the Lafuma group's operating profit to €6.3 million. The company turned in a profit of €5.4 million, compared with a loss of €1.2 million in 2016. Lafuma anticipates that its sales and operating margin will remain stable this year. More in the Outdoor Industry Compass.

Topics