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Accell Group Adjusts Profit Forecast Upwards

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HEERENVEEN, Netherlands – (November 7) – Accell Group NV announced that sales of the new bicycle collections are going well and are generating positive results, partly due to the good weather. Earnings per share for the full year are therefore expected to increase by at least 25%, barring unforeseen circumstances. In the second half of […]

HEERENVEEN, Netherlands – (November 7) – Accell Group NV announced that sales of the new bicycle collections are going well and are generating positive results, partly due to the good weather. Earnings per share for the full year are therefore expected to increase by at least 25%, barring unforeseen circumstances.
In the second half of the year, Accell Group will continue to focus on improving its competitive position by building on existing brands; a focused marketing approach to dealers and consumers; effective cost-controls and the integration of the Finish company Tunturi. The acquisition of Tunturi, which was completed in August of this year, has further boosted Accell Group’s market positions in Europe.
René Takens, board chairman at Accell Group, says: “When we announced the half-year results, we outlined the highlights of our policy for the second half of the year. We see clearly that our chosen strategy pays off. The dealers have received the new bicycle collections with great enthusiasm, partly as a result of the good weather. Production is running at full capacity and the integration of Tunturi is progressing according to plan. In view of the progress made, we expect earnings per share for the full year 2003 to increase by at least 25%.” (MH)

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