RNS Number:0290O
Amer Group PLC
28 July 2003


Amer Group Plc                                       STOCK EXCHANGE RELEASE 1(2)
                                                       July 28, 2003 at 2.00 pm


                    AMER GROUP REVISES 2003 EARNINGS GUIDANCE
                                        
                                        
Continuous weak demand for sports equipment in the USA has negatively impacted
Amer Group's expectations for 2003 as a whole. In particular golf equipment
sales have been below expectations. Furthermore, the strong euro, especially
against the US dollar, is also having a negative impact on the Group's growth.
Amer Group's net sales for 2003 as a whole are expected to be similar to 2002's,
whereas operating profit is expected to decline to around EUR 70-80 million
(2002: EUR 103.0 million). In 2002, Amer Group's net sales amounted to EUR
1,101.9 million.


As announced on 29 April 2003, Amer Group is re-organising its Wilson businesses
in the USA in order to ensure its competitiveness is improved and to increase
efficiency. Re-organising Wilson's businesses, as well as related adjustments in
Wilson's cost base in line with its business and current market situation, are
expected to lower Amer Group's overall cost base by approximately EUR 10 million
in 2004.


Industry growth has been slow in recent years but Amer Group believes that the
industry's growth rate will pick up again in the future. Amer Group expects that
it will be challenging to achieve rapid organic growth against this background,
but the Group's healthy balance sheet and strong operating cash flow will enable
it to continue its development of the business.


Amer Group's interim results for the period January to June 2003 will be
published on Tuesday, 5 August.



Amer Group Plc

Communications



PTM?ivi Antola

Communications Manager



For further information, please contact:

Mr Roger Talermo, President & CEO, tel. +358 9 7257 8210

Mr Pekka Paalanne, Senior Vice President & CFO, tel. +358 9 7257 8212


DISTRIBUTION:


Hex Helsinki Exchanges

Major media


AMER GROUP PLC


Amer Group is one of the world's leading sports equipment companies with its
internationally recognised brands Wilson, Atomic, Suunto and Precor. All Amer
Sports companies develop and manufacture technically advanced products that
improve the performance of active sports participants. The Group's business is
balanced by its broad portfolio of sports and presence in all major markets. In
2002 Amer Group made an operating profit of EUR 103.0 million on net sales of
EUR 1,101.9 million. Earnings per share were EUR 2.95. At the end of 2002 the
Company had 3,939 employees.







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