Puma: stock stumbles after FY results disappoint
(CercleFinance.com) - The share of sporting goods supplier Puma is down over 4% in Frankfurt on Wednesday, after the group reported 2020 EPS that dived 70% to 0.
53 euro, below the consensus, with the group intending to propose a dividend of 0.16 euro per share.
The German company's operating profit was halved (exactly -52.5%) to 209 million euros, for sales of 5.23 billion euros, down 1.4% at constant exchange rates, due to the negative impact of Covid-19, particularly in the very weak second quarter.
For 2021, Puma expects at least moderate growth in sales at constant exchange rates, thereafter forecasting a significant improvement in both net profit and operating profit relative to the previous year.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
53 euro, below the consensus, with the group intending to propose a dividend of 0.16 euro per share.
The German company's operating profit was halved (exactly -52.5%) to 209 million euros, for sales of 5.23 billion euros, down 1.4% at constant exchange rates, due to the negative impact of Covid-19, particularly in the very weak second quarter.
For 2021, Puma expects at least moderate growth in sales at constant exchange rates, thereafter forecasting a significant improvement in both net profit and operating profit relative to the previous year.
Copyright (c) 2021 CercleFinance.com. All rights reserved.