Puma’s net profit more than doubled to 136 million euros in 2017 from 62.4 million euros a year ago. German sportswear brand’s turnover grew by 14% to 4.136 billion euros.
Net profit in the fourth quarter amounted to 2.2 million euros, versus a loss of 4.6 million euros in the same quarter last year.
Boosted by strong footwear sales, Puma ended the quarter with profit.
Consolidated sales in the fourth quarter of 2017 rose by 14.5 percent to 1.04 billion euros, with double-digit growth in all regions.
Puma’s sales for the fourth quarter rose by 8.6% to 1.04 billion euros, while in currency-adjusted terms sales grew by 14.5%.
The company will propose a one-off total dividend of 12.50 euros per share for the financial year 2017.
Following the results of 2017, Puma intends to pay a one-time dividend of 12.5 euros per share. The main beneficiary will be the French conglomerate Kering, which owns many famous fashion brands.
For the full year 2018, Puma expects that currency-adjusted net sales will increase by approximately 10%. The EBIT is expected to come in between 305 million euros and 325 million euros.
