July 31, 2019 / 6:19 AM / 2 months ago

Puma raises outlook after strong quarter

BERLIN, July 31 (Reuters) - German sportswear group Puma raised its outlook for sales growth and operating profit for 2019 on Wednesday after a strong second quarter, powered by expansion in China, a return to U.S. basketball and sales of Manchester City shirts.

Second-quarter sales rose a currency-adjusted 15.7% to 1.23 billion euros ($1.37 billion), above an analyst consensus for 1.2 billion, while operating profit rose 39% to 80.3 million euros, ahead of consensus for 73 million.

Puma said it was now expecting currency-adjusted sales growth of around 13%, up from a previous forecast for 10%, and operating profit of 410 million euros to 430 million, up from 395-415 million euros. ($1 = 0.8963 euros) (Reporting by Emma Thomasson, editing by Riham Alkousaa)

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