Puma raises guidance after strong third quarter
today Oct 18, 2017
German sportswear brand Puma has released its preliminary results for the third quarter of 2017, revealing a 17% increase in currency adjusted consolidated sales to €1.12 billion ($1.32 bn), compared to €990 million ($1.05 bn) in the prior year’s period.
The operating result (EBIT) for the third quarter rose to approx. €101 million ($118m) from €60 ($70m) million a year earlier. In light of the strong third quarter performance, the company raised its full-year guidance for its consolidated sales, gross profit margin, operating expenses and operating result (EBIT).
Puma now expects its currency adjusted sales to increase between 14% and 16%, up from its previous guidance of between 12% and 14%, while the gross profit margin is forecasted to improve to 46.5% (0.5% more than previously expected). The company also revised its operating result, which is now anticipated to come in between €235 million and €245 million (between $276m and $288m).
A complete overview of the first nine months of the year will be released by the company, which owns Puma, Cobra Golf and Dobotex, on 24 October. The group has a presence in over 120 countries and employs more than 10,000 people worldwide.
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