Puma: sharp rise in Q3 operating profit.
(CercleFinance.com) - Puma reported a Q3 operating profit of 101 million euros, against 60 million euros in Q3 2016, despite an 11% increase in operating expenses due to higher marketing, sales and distribution costs.
Germany's sporting goods supplier reported a 17% increase in revenue to 1,122 million euros at comparable exchange rates (+13% as reported), with double-digit growth in all regions.
"We now expect currency adjusted sales to increase between 14% and 16% and the operating result (EBIT) to come in between E235 million and E245 million," said CEO Björn Gulden, who has therefore raised his annual forecasts.
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