HELSINKI Finnish sporting goods group Amer Sports (AMEAS.HE) reported a bigger-than-expected quarterly operating loss, blaming expansion costs.
Shares in Amer Sports fell 4.3 percent after it reported its April-June operating loss widened to 19.8 million euros ($24.35 million) from a loss of 10.9 million euros a year earlier. Analysts on average expected the loss to shrink to 5.8 million euros, according to a Reuters poll.
Amer said it expected full-year operating profit, excluding one-off items, to be around the same level as 2011. It also reiterated its forecast for a sales increase in 2012. ($1 = 0.8132 euros)
(Reporting by Helsinki Newsroom)