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Kering owned, sportswear manufacturer Puma has published its preliminary results for the second quarter of 2017 and says it has raised its guidance for the full-year 2017.
Puma’s consolidated sales increased around 16% in currency adjusted terms (approximately 17% in reported terms) to €969 million in the second quarter of 2017 against €827 million in the corresponding period of 2016. The operating result (EBIT) in the quarter is reported to have increased to approximately €43 million (Q2 2016: €12 million).
“In light of the strong second-quarter increase in sales and profitability as well as the positive business outlook for the current year 2017, Puma raises the full-year guidance for its consolidated sales and operating result (EBIT)”, says a Kering statement.
Puma expects currency adjusted sales to increase 12%-14% (previous guidance: currency adjusted increase at a low double-digit percentage rate). EBIT is now anticipated to come in between €205 million and €215 million against the previous guidance of €185-€200 million. Net earnings are also expected to significantly improve in 2017.