Puma: sharp rise in Q3 operating profit.
(CercleFinance.com) - Puma reported a Q3 operating profit of 101 million euros, against 60 million euros in Q3 2016, despite an 11% increase in operating expenses due to higher marketing, sales and distribution costs.
Germany's sporting goods supplier reported a 17% increase in revenue to 1,122 million euros at comparable exchange rates (+13% as reported), with double-digit growth in all regions.
"We now expect currency adjusted sales to increase between 14% and 16% and the operating result (EBIT) to come in between E235 million and E245 million," said CEO Björn Gulden, who has therefore raised his annual forecasts.
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Germany's sporting goods supplier reported a 17% increase in revenue to 1,122 million euros at comparable exchange rates (+13% as reported), with double-digit growth in all regions.
"We now expect currency adjusted sales to increase between 14% and 16% and the operating result (EBIT) to come in between E235 million and E245 million," said CEO Björn Gulden, who has therefore raised his annual forecasts.
Copyright (c) 2017 CercleFinance.com. All rights reserved.