Puma lifts 2019 guidance as profit and revenue rise

Puma SE said Thursday that net profit and revenue in its third quarter rose, and raised its 2019 guidance.

The German sporting-goods company said quarterly net profit rose 30% to 100.5 million euros ($111.8 million) from EUR77.5 million during the same period last year.

Sales came in at EUR1.48 billion, up 19% on a reported basis and 17% on a currency adjusted basis, Puma said.

Earnings before interest and taxes were EUR162.2 million, up 25%, the company said.

Puma raised its 2019 guidance and now expects currency adjusted sales for 2019 to increase by roughly 15%, compared with a previous guidance of around 13%.

EBIT should now be between EUR420 million and EUR430 million compared with a previous range of EUR410 million to EUR430 million.