Misto Holdings said on the 14th that its second-quarter results came in at 1.4312 trillion won in revenue and 295.2 billion won in operating profit. Compared with a year earlier, revenue rose 16.6% and operating profit increased 62.3%.
Acushnet, which accounts for more than 80% of total revenue, posted double-digit growth and led the results. Along with expanded sales of new products, a one-time tariff refund effect further boosted the increase in operating profit. The Misto institutional sector saw lower revenue but improved profitability.
Second-quarter revenue in the Misto institutional sector was 200.4 billion won, down 7.4% from a year earlier. Although the scale shrank due to restructuring at the U.S. subsidiary, revenue rose 4.0% excluding the U.S. subsidiary. Operating profit increased 6.6% to 36.4 billion won, helped by improved profitability in the domestic business, growth in the Greater China business, and expense efficiencies.
Second-quarter revenue in the Acushnet institutional sector was 1.2308 trillion won, up 21.7% from a year earlier, and operating profit rose 75.2% to 258.8 billion won. While sales of Titleist golf balls, clubs, and gear continued, the launch of new drivers and fairway woods drove top-line growth.
Misto Holdings completed the 10 billion won share buyback decided on in May and decided to purchase an additional 5 billion won of its own shares.
Lee Ho-yeon, chief financial officer (CFO) of Misto Holdings, said, "Growth in core businesses and improved profitability in the second quarter were reflected in the results," and noted, "In the second half, we plan to strengthen the product competitiveness of FILA Holdings Corp. in Korea, expand brands in Greater China, and push for operational efficiencies."