Puma posts steady third quarter earnings

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The German sports equipment and clothing company Puma on Tuesday posted steady third quarter profits despite what it termed "an uncertain environment".

Net third quarter profit stood at 82 million euros (114 million dollars), the same level as last year.

Puma sales were up 7.3 percent since last year at 842 million euros.

Sales in Asia and Latin America continued to be buoyant, with a strong increase in the sale of accessories (23 percent over a year) following Puma's acquisition of Cobra Golf, the golf equipment manufacturer.

Looking ahead, Puma confirmed it expects to post a 3-billion-euro sales for the year, with net profits up by 5 percent.

© 2011 AFP

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