Other Sport

Puma pins hopes on Olympics

2012-04-25 10:15

Berlin - The German sportswear giant Puma said on Wednesday that it had high hopes for this Olympic year despite posting disappointing profits for the first quarter due to sluggish spending in crisis-hit Europe.

Puma's net profits were down some five percent in the first three months of the year, to 74 million euros ($98 million) on sales of 821 million euros - a gain of six percent, the firm said in its earnings statement.

"After a strong finish in 2011, Puma's first-quarter sales growth could not keep pace with that of recent quarters, translating into weaker bottom line results," said Franz Koch, the firm's chief executive.

However, Koch added: "I am confident that the product innovations we have in the pipelines will contribute to achieving our full-year sales and earnings targets against the background of this extraordinary sports year."

In addition to the Olympics in London in July and August, Europe's top footballing nations will compete for the European Championships in Ukraine and Poland in June and July.

Puma said it expected sales over the full year in the "high single digits" with profits in the "mid-single digit range."

Read more on:    puma

What To Read Next


Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Live scoring

Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter


With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs

How excited are you about the upcoming Olympic Games in Rio?

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

There are new stories on the homepage. Click here to see them.