Earn­ings boost for Puma

China Daily (Hong Kong) - - BUSINESS -

Ger­man cloth­ing and sports equip­ment pro­ducer Puma SE wit­nessed a sig­nif­i­cant boost to its prof­its in the sec­ond quar­ter. The group, head­quar­tered in Her­zo­ge­nau­rach in Bavaria, made Q2 prof­its of 21.9 mil­lion eu­ros ($25.5 mil­lion), com­pared with 1.6 mil­lion eu­ros for the same pe­riod last year. The op­er­at­ing re­sult (earn­ings be­fore in­ter­est and taxes) im­proved to 43 mil­lion eu­ros, up from 11.9 mil­lion eu­ros a year ago, as strong sales growth was com­bined with an im­proved gross profit mar­gin. The firm, which com­petes in­ter­na­tion­ally with the likes of sports­wear giants Adi­das and Nike, has al­ready re­peat­edly raised its an­nual fore­casts for 2017. Gross rev­enue in the sec­ond quar­ter rose by 17.2 per­cent to a to­tal of 968.7 mil­lion eu­ros. Puma CEO Bjo­ern Gulden said that his com­pany ex­pe­ri­enced twodigit per­cent­age growth in all its core re­gions. The de­vel­op­ment was par­tic­u­larly fa­vor­able in the shoe and tex­tile di­vi­sions, he added.

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