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Puma shares rally amid ambitious profit announcement

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German sportswear retailer Puma has announced ambitious plans to boost sales by 10 per cent a year until 2022, driving its share prices after a drop in January. Puma added that it aimed to lift operating profit margin to around 10 per cent of sales by 2022, nearly doubling from the 5.6 per cent it reported in 2017. READ MORE: Kering to offload 70% stake in Puma This would propel the sportwear brand into a similar league as larger rivals Nike and Adidas, which reported operating profit margins of 13.8 and 9.8 per cent respectively in the same year

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Puma shares rally amid ambitious profit announcement

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