Net sales of Spalding Holdings, the parent company of Spalding Sports Worldwide, dropped for the second quarter ending July 3, 1999, to £80 million from £101 million over the same period last year.
For the first half of 1999, net sales decreased to £153 million compared with £194 million in 1998. However, profits for the period were more than £13.5 million whereas the first six months of 1998 loss of over £6 million.
The company attributes the decreases in net sales to their exit from low-margin products and loss generating businesses. In addition, the continuing soft market meant lower club and accessory sales, but these were partly offset by increases in ball sales.