Helly Hansen, which was still losing money in 2009, has...

Helly Hansen, which was still losing money in 2009, has apparently achieved a turnaround under the management of Peter Sjolander, the former Nike executive brought in by the Norwegian company's new owners in 2008. More precise figures should become available in May, but preliminary data indicate the company improved its operating earnings (Ebitda) by 50 percent in 2010, allowing it to record a net profit for the first time in many years. Sales went up by almost 15 percent to the equivalent of about US$280 million and an increase of more than 20 percent in pre-orders for the next winter season indicates further progress for this year (more in the last issue of SGI Europe).