Puma, profit up 40% and revenue grows 16% in first quarter

Puma keeps its good performance. The German company specialized in sports fashion and equipment closed the first quarter of fiscal year 2019 with a 40% increase of its net profit, reaching 94.4 million euros.

Meanwhile, the group’s revenue have also recorded positive results during the first three months of the year. In particular, Puma registered sales valued in 1.31 million euros, up 16%.

By regions, Asia has been the territory that has led Puma’s growth between January and March. In such region, the company boosted its sales by 32.5%, up to 401 million euros.

In America, one of its focus of expansion, Puma’s business continues growing at a 19.8% rate, to reach 416.6 million euros. In its local market, that is Europe, the group’s evolution has been more moderate, with a 4.3% growth, up to 501.7 million euros.

Puma increased sales in Asia by 32.5%

By segments, sportswear has been the one that has performed better in such period. Puma increased its revenue by 28.6%, to 639.3 million euros.

Sales of accessories, on the other hand, rose by 13.3% between January and March, reaching 211.6 million euros. Puma’s footwear segment also grew in the first three months of the fiscal year, up 10%, up to 639.3 million euros.

After the company explained that these have been the best quarterly results in its history, Puma’s chief executive officer, Bjørn Gulden, added that he maintains his estimates for the rest of the fiscal year.