Technogym shares rise on prospects of reaching sales goal earlier than forecast

Technogym

01/02/2021 10:12

MILANO, Feb 1 (Reuters) - ** Shares in Technogym  TGYM.MI 
are up more 6% at 10:00 GMT after the group says it will achieve
its revenue target ahead of time
** The Italian fitness equipment maker says it would reach both
1 billion euros of total revenues and 300 million euros in sales
for its Home Fitness business in the mid term
** In its three-year plan, announced in October, the group said
it would achieve the 1 billion-euro turnover in the mid-long
term
** "Technogym's shares rise because the group aims to overcome
the issue of the closure of gyms due to COVID by focusing on
home fitness. The company changed its guidance by betting on
growth with these new products", a Milan-based trader tells
Reuters
** Technogym says it launches a new MyRun treadmill, with an
on-demand training library
    

 (Reporting by Elisa Anzolin, Giancarlo Navach, editing by
Giulia Segreti)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))