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PUMA Q2 Preliminary EBIT Rises; Raises Full-year Guidance

German sportswear company PUMA SE reported that its preliminary operating result or EBIT for the second quarter 2017 increased to about 43.4 million euros from last year's 11.9 million euros.

Quarterly consolidated sales increased currency adjusted by about 16.3% or about 17.2% in reported terms to 968.7 million euros from last year.

PUMA raises the full-year guidance for its consolidated sales and operating result (EBIT). The company now expects that currency adjusted sales will increase between 12% and 14% compared to previous guidance of currency adjusted increase at a low double-digit percentage rate.

The operating result (EBIT) is now anticipated to come in between 205 million euros and 215 million euros, compared to to prior outlook of 185 million euros and 200 million euros. In line with the previous guidance, the company still expects that net earnings will improve significantly in 2017.

PUMA noted that a complete overview of its business development for the second quarter 2017 and the first half year 2017 will be published on July 26, 2017.

by RTT Staff Writer

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