[Special Stock] Fila Holdings Rises on Strong Earnings News from Subsidiary
[Asia Economy Reporter Jang Hyowon] Fila Holdings is showing strong performance following the good earnings report of its subsidiary Acushnet.
As of 10:28 AM on the 7th, Fila Holdings is trading at 49,950 KRW, up 8.59% compared to the previous day.
Fila Holdings' subsidiary Acushnet recorded Q1 sales of $580 million, a 42% increase compared to the same period last year. Operating profit was $120 million, a 460% increase. This significantly exceeded the market forecast of $70 million.
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Researcher Baesong from KTB Investment & Securities stated, "North America saw an influx of 500,000 new golfers and an increase in rounds played, resulting in 46% growth in North America, while Japan and Korea also grew by more than 50% each. The increased demand for golf is continuing, so sales in the first half are expected to remain strong."
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