Puma says 3rd quarter earnings take hit over heavy restructuring charges
October 25, 2012, 12:10 am TWN
FRANKFURT -- German sportswear giant Puma said Wednesday that earnings plummeted in the third quarter, tripped up by heavy restructuring charges.
Puma said in a statement it has booked a net profit of 12.2 million euros (US$15.8 million) in the period from July to September, a drop of 85.1 percent from the same period a year earlier.
Pretax profit plunged 81.7 percent to 21.3 million euros, despite a 6-percent increase in sales to 892.2 million euros.