April 12, 2017 / 6:10 AM / 4 months ago

BRIEF-Puma Q1 EBIT up at 70 mln euros

2 Min Read

April 12 (Reuters) - Puma SE:

* Publishes preliminary results for the first quarter 2017 and raises full-year guidance for 2017

* In Q1 2017, consolidated sales increased currency adjusted by approx. 15% (approx. 18% in reported terms) to 1,005 million euros ($1.07 billion) compared to 852 million euros in Q1 last year

* EBIT in Q1 2017 increased by approx. 70% to approx. 70 million euros (Q1 2016: 41.3 million euros)

* In light of strong first-quarter increase in sales and profitability as well as positive business outlook for current year 2017, PUMA raises full-year guidance for its consolidated sales and operating result (EBIT).

* 2017: management now expects that sales will increase currency adjusted at a low double-digit percentage rate (previous guidance: currency adjusted increase at a high single-digit percentage rate)

* 2017: operating result (EBIT) is now anticipated to come in between 185 million and 200 million euros (previous guidance: between 170 million and 190 million euros)

* Management still expects that net earnings will improve significantly in 2017 Source text for Eikon: Further company coverage: ($1 = 0.9429 euros) (Gdynia Newsroom)

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