Marine division sales up by over a quarter as Garmin posts 28% Q1 gain
The award-winning marine division of international technology giant Garmin saw its sales of fishing equipment rise by 28% in the first quarter of 2021.
It reported strong demand for its chartplotters and the Panoptix LiveScope sonar – voted Best in Show at ICAST 2019 – as the group posted sales growth of 25% compared to the previous comparable quarter.
Cliff Pemble, President and CEO of Garmin, said: “Broad momentum across our business segments resulted in strong double-digit revenue and profit growth. Interest in fitness, health and active lifestyle has never been higher and we believe that we are well positioned to capitalise on the opportunities ahead.”
The group said that it is maintaining its 2021 guidance for revenue of approximately $4.6 billion.
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