FX.co ★ Puma Quarterly Profits Up 13%

It should be noted that for the same period a year earlier the company declared a profit of 100.5 million euros. Earnings per share also rose 13% to 0.76 euros. Earnings per share last year were 0.67 euros.

Profit before tax and interest (EBIT) for the reporting period increased by about 17% to € 189.5 million. Last year, this figure was 162.2 million euros.

Puma's revenue rose 7.2% (13.3% excluding currency fluctuations) to € 1.583 billion from € 1.478 billion a year earlier, beating the consensus forecast of € 1.55 billion.

Despite the growth in financial indicators, Puma was unable to provide a forecast for the current year. The company said 2020 was and remains a very challenging year for the sporting goods industry due to the COVID-19 pandemic. It is also worth noting that a company representative expressed concern about the unpredictability of events in the world. This made it impossible to provide a forecast for the current year.

Puma shares are declining during Wednesday's trading. The company's capitalization has grown by 12.7% since the beginning of the year, to 11.9 billion euros.