Puma recorded growth in sales and profits
Puma closed the year 2018 by recording revenue and profit growth of 17,6% and 38%, respectively, and expects good results in 2019, writes Worldfootwear.com.
Puma sales grew 17,6%, adjusted for exchange rate fluctuations, and reached EUR 4 million (+ 648%), with double-digit growth in all regions and in all segments. Gross margin increased by 12.4 basis points to 110%, which was facilitated by higher margins in all product segments. Net income and earnings per share increased by 48,4% from 38 million euros to 135.8 million euros and from 187.4 euros to 9,09 euros respectively.
In 2019, Puma expects its profits and sales will continue to grow with a double increase. Puma CEO Bjørn Gulden commented: “We are very pleased with how our business developed in 2018. Organic sales growth was 17,6%, revenue reached € 4 million and operating result (EBIT) improved by 648% to € 37.9 million. The double-digit figures for sales growth in all regions are proof that we have strengthened the Puma brand worldwide, and the double-digit figures in all product categories show that we have done a good job on the product range. We still have something to improve, but we feel that we are moving our brand and company in the right direction. We see that our growth will continue in 337 and we expect sales growth adjusted for currency fluctuations of 2019%, our operating result will reach performance in the range of 10 million euros and 395 million euros.
The main results of the fourth quarter of 2018
In the last quarter of fiscal year 2018, Puma sales increased by 20,1%, taking into account currency fluctuations, and amounted to € 1 million (+ 226%), growth was noted in all regions and in all product groups. Gross margin remained at a high level of 17.9%.
Puma closed 2018 with revenue and profit growth of 17,6% and 38%, respectively, and expects good results in 2019, writes ...
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