(CercleFinance.com) – Puma shares fell on the Frankfurt Stock Exchange on Wednesday morning, penalized by prospects deemed too timid for the current financial year.
Shortly before 11:00 a.m., the title of the sporting goods specialist dropped 0.9%, making it the fourth largest drop in a DAX index which gained 1.3%
The German sports equipment manufacturer said this morning that it expected sales to grow by at least 10% this year, while the consensus was rather for an increase of 12%.
The annual operating profit is, for its part, expected between 600 and 700 million euros.
In a research note released in the morning, Stifel analysts refer to “cautious” forecasts, while recalling that the group has a habit of exceeding market estimates.
In 2021, Puma’s sales excluding currency effects climbed 32%, to more than 6.8 billion euros, while its operating profit improved to 557 million euros, against 209 million euros. in 2020.
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