Mips’ Profit Up Double Digits in Q3
Revenues at the Swedish helmet tech company improved 59% in the third quarter to SEK 215 million ($22.9 mm) from SEK 135 million, while net income was up 15% to SEK 39 million ($4.2 mm) from SEK 34 million. The gains were driven by the recent Koroyd acquisition and tailwinds from favorable ForEx, helping organic sales climb 24%. The sports category—mostly revenue from bike helmet manufacturers—grew by 37% to SEK 164 million. Safety category sales were up fivefold to SEK 30 million, mainly due ... Log in to view full article.