GERMANY: Puma Posts Double-Digit Growth For Q1
The Herzogenaurach-based company also reported a 62.6 per cent rise in pre-tax profit to EUR117.2m for the quarter, up from EUR72.1m in the previous first quarter, along with a 64.6 per cent year-on-year increase in net profit after minorities to EUR80.4m.
In a statement, Puma said it had lifted its full-year guidance as a result of the better-than-expected quarterly results.
"Due to the strong performance in Q1 and the positive developments in the order book for the next two quarters, management increases its full year expectations," the company said.
"With respect to Puma's positioning - as a desirable sport-lifestyle brand and maintaining its focus on controlled growth - sales are expected to grow between 15 and 20 per cent.
"This would result in double-digit growth for the sixth consecutive year."
In the first quarter, footwear accounted for 61.4 per cent of Puma's total global branded sales, while apparel and accessories made up 32.1 per cent and 6.5 per cent of sales respectively.
Companies: Puma AG
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