PARIS — Puma SE on Wednesday raised its full-year guidance for the third time this year, citing a strong increase in third-quarter sales and profitability, as well as the positive business outlook for the fourth quarter of 2017.
The German sportswear company, which is controlled by French group Kering, said it now expects sales to grow between 14 percent and 16 percent, adjusted for currencies, up from its previous target of 12 percent to 14 percent.
It also raised its target for operating result for the year to between 235 million euros and 245 million euros, compared to a previous range of between 205 million euros and 215 million euros. Net earnings are expected to improve significantly in 2017, the company reiterated.
The Herzogenaurach, Germany-based firm, in an unscheduled statement, said preliminary consolidated sales in the three months ended Sept. 30 rose 17 percent to 1.12 billion euros, adjusted for currencies.
Operating profits in the quarter spiked to approximately 101 million euros, versus 60 million euros in the equivalent year-ago period.
The company’s third-quarter results will be published on Oct. 24.
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