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PUMA AG Preliminary Q2 Profit Increases; Raises Full-year Guidance

PUMA AG (PMMAF.PK) reported preliminary results for the second quarter 2017. The operating result (EBIT) increased to approximately 43.4 million euros from 11.9 million euros, prior year. Consolidated sales increased currency adjusted by approximately 16.3% (approximately 17.2% in reported terms) to 968.7 million euros compared to 826.5 million euros, prior year.

PUMA AG increased its full-year guidance for consolidated sales and operating result (EBIT). The operating result (EBIT) is now anticipated to come in between 205 million and 215 million euros, up from previous guidance of between 185 million and 200 million euros. In line with the previous guidance, the Management still expects that net earnings will improve significantly in 2017. The Management now expects that full-year currency adjusted sales will increase between 12% and 14% compared to its previous guidance of currency adjusted increase at a low double-digit percentage rate.

by RTTNews Staff Writer

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