Amer Sports fourth quarter operating profit rises 38 percent

HELSINKI, Finland - Finnish sporting goods company Amer Sports on Tuesday reported its quarterly operating profit rose 38 percent from a year ago, helped by cost cuts and stronger sales of high-margin products such as clothing.

Amer Sports, the maker of Wilson tennis rackets and Salomon skis, said its fourth-quarter adjusted operating profit was 65 million euros ($89.million), up from 47 million euros a year earlier and surpassing the market's average forecast of 62 million euros in a Reuters poll.

The company also said it expected its profit to increase further this year. Shares in the company rose 5.1 percent to 14.50 euros after the announcement.

$1 = 0.7313 euros