April 26, 2019 / 6:21 AM / in 23 days

Puma posts strong sales and profit in Q1 boosted by China

BERLIN, April 26 (Reuters) - German sportswear group Puma reported another strong quarter of sales and earnings growth on Friday, driven by healthy demand in China and the Americas, after it reentered the basketball market.

Puma’s first-quarter sales rose a currency-adjusted 15.3 percent to 1.32 billion euros ($1.47 billion), versus an analyst consensus for 1.3 billion, while operating profit came in at 143 million euros, slightly ahead of the consensus forecast of 139 million.

“The first quarter of 2019 was the best quarter PUMA has ever seen,” Chief Executive Bjorn Gulden said in a statement.

“Even if we have nine more months to go and despite a lot of uncertainty in the market, we feel comfortable that we will achieve our guidance for the full year.” ($1 = 0.8980 euros) (Reporting by Caroline Copley Editing by Tassilo Hummel)

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