On Wednesday, Puma reported slightly better-than-expected results and confirmed its annual forecasts, announcements which were well received by the market.

The German sports equipment manufacturer posted first-quarter operating profit (Ebit) down 9.4% to 159 million euros, due in particular to unfavorable currency effects.

However, this was better than the consensus target of 147 million euros.

The group - which cites a still "volatile" market environment - says it generated currency-adjusted sales up 0.5% to 2.1 billion euros, slightly ahead of expectations.

In its press release, Puma expressed confidence in the sequential improvement of its performance quarter after quarter this year, particularly with the prospect of Euro 2024 soccer and the Olympic Games.

The group - which recently launched its first major marketing campaign in ten years - still expects sales for 2024, adjusted for currency effects, to rise by around 5%, and operating profit (Ebit) to be between €620 and €700 million.

Its share price climbed more than 5% in the wake of this publication.

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