Puma earnings jump 69.5 per cent

PumaPuma earnings pretax jumped 69.5 per cent to about €70 million (US$74.3 million) in the apparel brand’s first quarter.

Consolidated sales for the German sportswear group grew about 15 per cent on a currency-adjusted basis to €1.005 billion while increasing 18 per cent on reported terms.

With the strong first-quarter increase in sales and profitability as well as the positive business outlook for this year, Puma raised its full-year guidance for its consolidated sales and operating result (EBIT).

Management now expects sales will increase currency-adjusted at a low double-digit rate, and the operating result (EBIT) is now anticipated to come in between €185 million and €200 million, a gain between 45 to 56 per cent.

Net earnings are still expected to improve significantly this year.

The company’s full first-quarter results will be published at the end of this month.

Last year, Puma’s sales rose 8.5 per cent in Asia.

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