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Puma predicts strong 2008 as Q4 earnings rise

Puma earning were up 21% to €52.4m (£39.54m) in the fourth quarter of 2007 and sales rose 10.3% during the period.

Sales reached €504.5m (£380.7m) in the fourth quarter on a currency adjusted basis.

Footwear sales rose 7%, clothing was up 14.8% and accessories were up 14%.

Over the year to January, global sales rose 3.4% to €2.7 billion (£2.03bn). Clothing sales were up 5.7% to €998.7m (£998.7m) EBIT was €372m (£280.7m).

The company said future orders are up 10% and management said it expected sales and earnings increase in 2008.

Chief executive Jochen Zeitz said: "Although Puma faced a challenging year, we did not only meet most of our expectations in 2007, but even exceeded them in many points."

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