Finansavisen, a Norwegian newspaper, reports that inventories have been piling up at Bergans, due to the outdoor brand's relatively weak growth in its own market last year. As reported in our previous issue, Bergans' turnover jumped by more than 8 percent to nearly 700 million Norwegian kroner (€92.9m-$116.0m) last year, but Norwegian sales increased by just 2.8 percent to NOK 534.5 million (€70.9m-$88.6m). Finansavisen writes that inventories were valued at NOK 116 million (€15.4m-$19.5m) last year but nearly doubled to NOK 228 million (€30.3m-$38.4m) last year. The newspaper reports that the situation forced Bergans to increase its overdraft limit from NOK 150 million (€19.9m-$25.3m) in 2010 to NOK 160 million (€21.2m-$26.9m) last year. The company's operating profit was roughly stable at NOK 82 million (€10.9m-$13.8m).
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