Puma takes confidence from Q1 results
29/04/2010
Puma has reported positive first-quarter results and has predicted low- to mid-single digit rate growth for the full year.
It posted a 4.4% rise in profits for the first quarter of 2010 at EUR 119 million. This was on the back of a 2.1% decline in sales at EUR 683.1 million. The company pointed out that sales in the first quarter of last year had been posted by sales to clear inventory.
On announcing the results, chief executive, Jochen Zeitz, said the economic climate had stabilised and that his company looked on its positive first-quarter figures as a confidence boost.
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