For the second time this fiscal year, German sports brand Puma increased its profit forecast. A strong first quarter prompted the first adjustment and this second quarter was also above expectations apparently.
Profit tripled
Puma already increased its full-year profit forecast in April, up to a figure between 185 and 200 million euro, but it has once again increased that number, to somewhere between 205 and 215 million euro. Turnover should increase 12 to 14 %.
The company has not yet published its final second quarter results, but it did reveal that turnover grew 17.2 % (excluding exchange rate fluctuations). Included, turnover still has grown 16.3 % and its EBIT more than tripled to 43.4 million euro.
This is in line with Puma’s performance late last year, when turnover also exceeded expectations. Several famous people, like Usain Bolt and Rihanna, have featured in Puma’s clothing, boosting its popularity. Its full financial results will be published at the end of July.
German Puma, founded by the brother of Adidas’ founder, is part of the French Kering Group. However, rumours have surfaced that it intends to sell the brand.
