Hi-Tec Sports PLC, the privately-held footwear maker company based in the United Kingdom, reported that with the aid of solid sales growth, earnings more than doubled in 2009. Sales in local currencies increased over 10% resulting in $250 million at wholesale value.
The sales growth came predominantly from the Outdoor category that continues to see year on year growth due to its high quality and innovative products.
“We were well positioned when the economic crisis hit, with great products at key consumer price points,” said Frank van Wezel, Hi-Tec Chairman, in a statement. “We forecast a further 9% growth in revenues and 35% growth in earnings in 2010. Continued investment in product collections, new technologies, marketing and sourcing will help to achieve these figures.”
