Fishing brands lift Johnson to new heights
Record revenue driven by Humminbird and Minn Kota fishing brands.
Outdoor equipment supplier Johnson Outdoors has reported record revenue and earnings for the 2017 fiscal year on the back of a strong performance from its fishing brands such as Humminbird and Minn Kota.
Total company net sales increased by 13% to US$490.6 million compared with US$433.7 million in the previous year. Operating profit soared by 99% to US$45.6 million versus US$22.9 million in 2016.
The strong results were driven by strong performances in the company’s core fishing, diving and camp cooking brands. New products in the Humminbird and Minn Kota ranges resulted in double-digital sales growth in all key categories, channels and markets.
Overall sales in the fishing segment grew by 19% over the year to US$328 million, up from US$275 million in 2016.
“Johnson Outdoors had an exceptional year, driven by unprecedented growth across our flagship Minn Kota and Humminbird fishing brands as demand for the new Ultrex electric cable steer trolling motor, Helix Series fishfinders and new-to-world MEGA Imaging sonar technology remained very strong throughout the year,” said Helen Johnson-Leipold, chairman and CEO.
The Old Town Predator kayak range also saw continued growth despite what the company described as an “overall sluggish kayak market”.