Puma: raises guidance after strong end of third quarter

(CercleFinance.com) - On Thursday German sportswear group Puma upped its outlook for 2018 after the third quarter ended "a little stronger" than it expected, comments which pushed its shares up 6% in Frankfurt.


Puma now expects that currency-adjusted sales for 2018 will increase by 14-to-16 percent, up from a previous target range of 12%-14%.

Puma also said that it expects 2018 EBIT to reach between 325 million and 335 million euros, from a previous guidance range of 310 million to 330 million euros.

Over the first nine months of 2018, its operating result improved by 39.6% to 299.8 million euros, on the back of revenues that were up 13.9% (currency-adjusted) at 1.24 billion euros.

This publication was clearly warmly welcomed by investors, with the stock jumping 6.1% at 433.5 euros towards lunchtime today.



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