German sportswear firm Puma on Monday reported record revenues in 2017, with celebrity sparkle from Rihanna and the football World Cup set to maintain the leaping-cat brand's appeal into 2018. Net profit at the Bavaria-based company more than doubled last year, reaching 135.8 million euros ($166.7 million) compared with the 62.4 million seen in 2016. Operating, or underlying profit grew almost 92 percent, to 244.6 million euros, on the back of sales up 14 percent at 4.1 billion euros.
"2017 was a great year for us at Puma," chief executive Bjorn Gulden said in a statement, adding that the firm would "look positive into 2018" as major sporting events and high-profile celebrity partnerships keep its logo in the spotlight. Puma booked double-digit sales growth in all three of its major regions - Europe, the Middle East and Africa, the Americas, and Asia - with sports and leisure footwear and women's clothing making especially big strides. On the business side, the firm said it would pay out a one-off dividend of 12.50 euros per share for 2017, after a regular dividend of 0.75 euros the previous year. Puma expects to boost currency-adjusted sales by around 10 percent compared with 2017's figure, while boosting its operating profit to between 305 million and 325 million euros and upping net profits "significantly".
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