PUMA Posts Loss Per Share In Q4, Dividend Stable; Sees Sales Growth In FY15

(RTTNews) - German sportswear firm PUMA AG (PMMAF.PK) reported Monday that its fourth-quarter loss per share was 0.30 euros. Operating results or EBIT was 10.6 million euros, which increased significantly from last year, the company said.

The prior year results included special items of 129.0 million euros, while there were no such items this year.

PUMA's gross profit margin increased to 45.0 percent in the fourth quarter from 43.2 percent last year.

Consolidated sales rose to 750.8 million euros from 698.3 million euros a year ago, which represents a currency adjusted increase of 6.3 percent. This was driven mainly by a stronger demand in the Americas as well as a considerable upwards trend in Accessories and further recovery in footwear sales.

In the year, consolidated net earnings climbed to 64.1 million euros from 5.3 million euros in 2013, with earnings per share increasing to 4.29 euros from 0.36 euros last year. Consolidated sales increased 3.3 percent currency adjusted to around 3.0 billion euros, which corresponds to a slight decline of 0.4 percent in Euro terms.

Further, the company said its Administrative Board will propose a stable dividend of 0.50 euros per share for the financial year 2014.

Looking ahead for fiscal 2015, PUMA expects an increase of its currency-adjusted net sales in the medium single-digit range, with sales in the first half expected to be flat and growth occurring in the second half. The gross profit margin is anticipated to improve slightly based on lower discounts and a favorable product mix.

In Germany, Puma shares were losing 1.62 percent to trade at 176.05 euros.