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Finland's Amer Sports reports more or less flat profits in Q3, to launch cost-cutting program

Global sports equipment maker Amer Sports Corp., owner of brands such as Atomic, Salomon and Wilson, has posted virtually unchanged third-quarter profits as higher sales just offset higher costs and taxes.

The Helsinki-based group also announced plans to launch a "group-wide" cost-cutting program which it hopes will save €20 million ($26 million) a year by the end of 2014. Further information will come when the company unveils full-year results.

Thursday's report showed a net profit of €55.9 million during the quarter, up only slightly from €55.2 million in the same quarter last year. Sales, boosted in particular by its Apparel unit, rose some 8 percent to €601.9 million.