The Exel Group's net sales rose to €69.3 million for the first nine months, up 8.2% on the previous year’s €64.1 million. Net sales were up 9.8% to €22.4 million, compared to €20.4 million in the third quarter. Operating profit for the first nine months was down slightly to €10.2 million compared to €10.4 million. Operating profit in the third quarter was €3.0 million compared to €3.3 million or 13.4% of sales versus 16.2% of sales last year.

Earnings per share were €0.17 versus €0.19 last year.

Sport Division sales remained on last year’s level but the Strong focus on opening Nordic Walking markets hampered profitability in the Sport Division, posting an operating profit of €500,000 versus €1.3 million in the third quarter of last year.