Puma raises full-year outlook on strong Q1 results

In its preliminary result announcement for the first quarter, Puma said, its consolidated sales increased by approximately 15 percent currency adjusted and 18 percent reported to 1,005 million euros (1,072 million dollars) compared to 852 million euros (909 million dollars) in the first quarter last year. EBIT increased by about 70 percent to approximately 70 million euros (74 million dollars).

In light of the strong first-quarter increase in sales and profitability as well as the positive business outlook for the current year 2017, Puma has raised the full-year guidance for its consolidated sales and operating result (EBIT). The management now expects that sales will increase currency adjusted at a low double-digit percentage rate compared to previous guidance of currency adjusted increase at a high single-digit percentage rate.

The operating result (EBIT) is now anticipated to come in between 185 million euros (197 million dollars) and 200 million euros (213 million dollars) against previous guidance of between 170 million euros (181 million dollars) and 190 million euros (202 million dollars). In line with the previous guidance, the management expects that net earnings will improve significantly in 2017.

Picture:Puma website