- Prachi Singh |
In the first quarter 2018, consolidated sales at Puma SE increased currency adjusted by approximately 21 percent or around 12 percent in reported terms to 1,131 million euros (1,394 million dollars), while operating result (EBIT) in the quarter increased to approximately 112 million euros (138 million dollars).
The company said since first quarter saw a strong increase in sales and profitability, but several uncertainties in the business environment developing recently including adverse and volatile currency developments, political instabilities as well as the uncertain trade environment between the USA and China. Therefore, Puma added that the company is adjusting its guidance for the full year 2018 and now expects currency adjusted sales to increase between 10 percent and 12 percent from previous guidance of approximately 10 percent.
The operating result (EBIT) is now anticipated to come in between 310 million euros and 330 million euros (382 and 407 million dollars) compared to previous guidance of between 305 million euros and 325 million euros (376 and 401 million dollars). The company further said that in line with the previous guidance, the management still expects net earnings to improve significantly in 2018.