The Thule Group's net income from continuing operations increased by 21.5 percent to 169 million Swedish kronor on 5.5 percent higher revenues of SEK 1,380 million in the first quarter. The underlying operating profit margin (Ebit) improved to 17.0 percent from 15.7 percent in the year-ago period, and it went up by 1.3 percentage points when adjusted for exchange rate fluctuations. On a currency-neutral basis, sales expanded by 6.0 percent, with a predicted decline of 4 percent in the Americas offset by growth of 11 percent in Europe and the rest of the world. On the same basis, sales grew by 6.2 percent in the Outdoor & Bags segment, driven by new bike carriers, backpacks and other new products in Europe. More in the Outdoor Industry Compass.

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