Last month, The Lafuma Group reported that fiscal 2005 net sales increased 12.3% to 202.0 million ($257.0 mm) compared 180.0 million ($219.1 mm). This growth was entirely due to the recent acquisition of Oxbow, and organic sales actually declined 3.6% for the year.
In a more recent financial release, the group reported net profits were up 3.3 % to 8.4 million ($10.5 mm) benefiting from the positive impact of the goodwill amortization resulting from the OBER acquisition. Operating profits were down 12.5% to 13 million ($16.2 mm).
Looking ahead to 2006, Lafuma plans to complete the Oxbow integration and expects to experience some organic sales growth as economic conditions improve. Profits are also likely to rise resulting from the initial economies of scale generated from the new acquisitions of Ober and Oxbow. Sales at Millet increased 5.3%, while the companys high-end hunting and equestrian brand, Le Chameau, saw sales increase 4.0%.
International business, including the U.S. subsidiary based in Colorado, reported a sales increase of 7.5% with organic growth at roughly 1%.