Puma resurgence underlined by 2nd quarter results
Financial results indicate that Puma’s profits and sales have soared in the second quarter 2002, and that its shares have risen by as much as 10 %.
The company said its pre-tax profits for the 13-week period tripled to Eur24.5 million ($
24 million) from the year-ago period while sales leapt to Eur205.9 million ($126.78 million) from Eur129.3 million ($126.7 million), a growth of 57 %.The company said that the World Cup in Japan and South Korea boosted its results and reaffirmed it expectations of a full year pre-tax profit of more than Eur100 million ($97.9 million) from Eur57 million ($55.8 million), and sees a 40% jump in sales with future orders up 65%.
It added that European sales soared 63.4 % to Eur133.8 million, American sales were up 56.8 % to Eur56.3 million ($55.1), sales in Asia were ahead 8.2 % at Eur10.4 million ($10.2), and Africa and Middle East sales more than tripled to Eur9.5 million ($9.3).
Puma chairman and CEO, Jochen Zeitz, stated: "In a challenging economic environment, we are pleased to have completed the first half of 2002 with a very strong result in the second quarter and we anticipate that 2002 will be another outstanding year for Puma."
