Earnings boost for Puma
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.