China sales pump up Puma in record first quarter

German sportswear maker Puma on Friday confirmed full-year business performance targets, saying massive growth in China and its clothing division produced its best quarter ever between January and March.

Net profit at the group hit 94.4 million euros ($105.2 million), up 40.1 percent year-on-year.

Sales were up 16.6 percent, at 1.3 billion euros, while operating, or underlying profit mounted 27 percent to 142.5 million.

“The first quarter of 2019 was the best quarter Puma has ever seen,” chief executive Bjorn Gulden said, hailing “growth in all regions and all product divisions”.

Driven by China, sales in the Asia-Pacific region soared 28.6 percent, while the Americas also saw double-digit growth.

 

China sales pump up Puma in record first quarter

German sportswear maker Puma on Friday confirmed full-year business performance targets, saying massive growth in China and its clothing division produced its best quarter ever between January and March. Net profit at the group hit 94.4 million euros ($105.2 million), up 40.1 percent year-on-year. Sales were up 16.6 percent, at 1.3 billion euros, while operating, or underlying profit mounted 27 percent to 142.5 million. The first quarter of 2019 was the best quarter Puma has ever seen, chief executive Bjorn Gulden said, hailing growth in all regions and all product divisions. Driven by China, sales in the Asia-Pacific region soared 28.6 percent, while the Americas also saw double-digit growth.