July 26, 2018 / 6:21 AM / 5 months ago

Puma lifts sales target after solid second quarter

BERLIN, July 26 (Reuters) - German sportswear maker Puma nudged up its outlook for full-year sales on Thursday after second quarter results were helped by a strong performance from its sponsored players at the World Cup and its reentry into the basketball business.

Second-quarter sales rose a currency-adjusted 15 percent to 1.05 billion euros ($1.23 billion), while operating profit came in at 58 million, versus analyst forecasts for 1.04 billion and 56 million respectively, according to Thomson Reuters Eikon.

Puma lifted its 2018 forecast for a currency-adjusted rise in sales to 12 to 14 percent from a previous 10 to 12 percent, but left its target for full-year operating profit of between 310 million and 330 million euros. ($1 = 0.8526 euros) (Reporting by Emma Thomasson Editing by Maria Sheahan)

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