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Puma raises guidance

Jul 19, 2017 / Germany
Puma raises guidance
The Germany-based sporstwear giant has updated its guidance for the full year after announcing its second-quarter results
Consolidated sales posted by Puma in the second quarter increased by 16% in currency adjusted terms (17% in reported terms), totaling 969 million euros, compared to 827 million euros in the second quarter last year. The operating result (EBIT) in the second quarter 2017 increased to approximately 43 million euros, more than three times year-ago earnings of 12 million euros in the same period a year ago.

Based on the increase in sales and profitability, registered in the second quarter, Puma keeps its outlook for the current year 2017 positive and raised the full-year guidance for its consolidated sales and operating result (EBIT).

Puma now expects that currency adjusted sales will increase between 12% and 14%. Previous guidance called for a currency adjusted increase at a low double-digit percentage rate.

In line with the previous guidance, Puma still expects that net earnings will improve significantly in 2017.

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