Puma posting healthy preliminary second-quarter results, prompting it to raise its guidance for the year.
In the second quarter, consolidated sales increased currency adjusted by approximately 16 percent (17 percent in reported terms) to €969 million compared to €827 million in the second quarter last year. The operating result (EBIT) in the second quarter 2017 increased to approximately €43 million, more than three times year-ago earnings of €12 million in the same period a year ago.
In light of the strong second-quarter increase in sales and profitability as well as the positive business outlook for the current year 2017, Puma raised the full-year guidance for its consolidated sales and operating result (EBIT).
Puma said it now expects that currency adjusted sales will increase between 12 percent and 14 percent. Previous guidance called for a currency adjusted increase at a low double-digit percentage rate.
The operating result (EBIT) is now anticipated to come in between €205 million and €215 million, up from previous guidance between €185 million and €200 million. In line with the previous guidance, Puma still expects that net earnings will improve significantly in 2017.
Puma’s full earnings will be reported on July 26.