Puma Raises 2017 Guidance on Strong 3Q Sales and Profitability
18 Octobre 2017 - 05:20PM
Dow Jones News
By Alberto Delclaux
Puma SE (PUM.XE) expects to deliver strong results for 2017,
raising its guidance for key earnings, sales and margin metrics on
Wednesday after third-quarter sales and profitability rose
sharply.
For the quarter, consolidated sales grew 13.3% to 1.12 billion
euros ($1.32 billion) from EUR990 million a year earlier, while
earnings before interest and tax nearly doubled to EUR110 million
from EUR60 million.
On the back of that performance, Puma now expects EBIT of
between EUR235 million and EUR245 million, when previously it had
forecast EUR205 million to EUR215 million.
The German company raised its gross profit margin forecast to
46.5% from 46% and anticipates currency-adjusted sales growth of
14% to 16%--higher than its original 12% to 14% target.
Puma, which is majority-held by France's Kering SA (KER.FR),
also reaffirmed its expectation of a significant increase in net
profit.
The full third-quarter results will be published Oct. 24.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
October 18, 2017 11:05 ET (15:05 GMT)
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