Sumitomo Rubber Industries, Ltd. has reported that sales revenue in its Dunlop Sports business increased 19.5 percent to ¥35.5 billion ($267 million) in the first quarter compared to ¥29.7 billion ($256 million) in the year-ago comparable period. Business profit for Dunlop increased 37.2 percent to ¥5.5 billion ($41 million) from ¥4.0 billion ($34 million) in the 2022 comp period.
Golf sales revenue reportedly exceeded the results of the year-ago Q1 period as the company maintained “strong sales performance” primarily in overseas markets such as North America and South Korea, with the additional effects of the new product launches.
Tennis sales revenue also reportedly exceeded the 2022 levels posted in the previous fiscal year quarter, Maintaining “strong sales in each of the markets, mainly in Europe.”
Wellness segment sales exceeded the level of the same period of the previous fiscal year thanks to the effects of the price increases as well as comprehensive facilities newly opened during the period.
Looking ahead, the company has reduced its sales forecast for the Dunlop Sports business for the six-month period ending June 30, 2023, but increased the profit outlook for the business. Sales are now forecast to reach ¥70.0 billion in the 2023 first half, compared to the previous forecast of ¥75.5 billion. Business profit for the Dunlop business is now seen at ¥7.0 billion, a 16.7 percent increase from the previous ¥6.0 billion forecast for the six-month period.
For the year, the company has also reduced its sales forecast for the Dunlop Sports business for the 12-month period ending December 31, 2023, but increased the profit outlook for the business. Full-year Dunlop sales are now forecast to reach ¥127.5 billion in full-year 2023, compared to the previous forecast of ¥132.5 billion. Business profit for the Dunlop business is now seen at ¥10.0 billion for the year, a 25.0 percent increase from the previous ¥8.0 billion forecast for the full-year period.
Photo courtesy Dunlop Sports
