Umbro Share Price
Umbro, the UK sports and clothing manufacturer, have reported a drop in sales from £195 million to £175.4 million.
However, the company announced they remained confident that their full results would go as expected.
Traditionally, football clothing sales have been lower in a non-tournament year. With no European Championships or World Cup this summer, figures were rightly lower.
Umbro shares also fell earlier this year when it was announced they had ended their sponsorship agreement with Chelsea Football Club five years early. In the face of growing competition in the industry, Chelsea FC decided to ditch Umbro in favour of the trendier, global Nike brand.
With the 2006 World Cup being held in Germany in 9 months time, Chief executive Peter McGuigan said shares and sales figures were in good shape for next summer.
Umbro have already developed and launched football clothing ranges in preparation for the football World Cup 2006. McGuigan was said be be “confident of increasing shareholder value.”
Date: 09.09.05
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