Puma’s global sales increased 4.8 per cent to nearly €2.2billion during the first nine months of 2010, despite reports of irregularities committed by the company’s joint venture partner in Greece to the tune of around €115million.
Jochen Zeitz, the company’s CEO, says: “We are pleased to see that Puma’s operational performance improved significantly in the third quarter as we posted a strong rise in sales and operating results.
“We expect the sales outlook to further improve for the fourth quarter and as a result we have raised our forecast of growth to mid to high single digits for the full year 2010.”
Puma also said it will take full control of its business in China from January 1, having acquired the remaining 49 per cent of the shares of its long-term Chinese joint venture partner Liberty China Holding Ltd.
