Shimano reports improvement in tackle sales and profits
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Figures reported by Shimano yesterday for its fishing tackle business in the first half of 2018 show a significant improvement over the same period last year. Net sales from fishing increased 8.4% to 36,631 million yen, while operating income is up by 32.3% to 5,069 million yen.
The Japanese company’s Summary of Financial Results for the first six months of 2018 reveals that retail sales in the Japanese market began the year strongly but stagnated after unseasonably bad weather. Early spring sales in Europe were also lacklustre, with cold weather again a factor, and distributor inventories increased in major markets such as the UK.
However, sales in North America benefited from the economic expansion trend and were robust. Sales in China, South Korea and South East Asian markets also continued to do well, supported by the growing popularity of sportfishing.
Sales in a ‘booming’ Australian market regained strength due to the stable weather that followed the cyclones in March.
Sales in North America, Europe, Asia and Australia all exceeded the previous year’s levels, with Shimano’s new Stella flagship spinning reel series and new lure-related products such as the Bantam being well received.