Sportswear giant Puma AG saw second quarter earnings fall 14.9 percent to €50 million due to high marketing costs during the World Cup this summer. Sales rose 17.7 percent to €620 million. Earnings for the first half fell 4.4 percent to €143 million on sales of €1.4 billion, signifying a rise of 16.1 percent on the same period in 2005. Footwear sales gained 13.9 percent to €770 million in the first half, while apparel sales surged 19.2 percent to €469 million and accessories sales increased 18.9 percent to €118 million. Europe, the Middle East and Africa accounted for 50.5 percent of revenues, down from 67.1 percent last year, due to the recovery of six licenses at the beginning of the year. The Americas generated 29.7 percent of sales, up from 22.7 percent last year, while Asia accounted for 19.8 percent, compared with 10.2 percent last year. The company reiterated its full year sales forecast of 35 percent growth and added that the full year profit margin will be between 50 and 51 percent. “By supplying the World Champion Italian national team, along with our overall strong brand visibility at the football World Cup, as well as further outstanding performances in new product categories like golf, Puma was able to strengthen its position as one of the most desirable sports lifestyle brands,� chief executive Jochen Zeitz said in a statement. “Combined with half-year results that exceeded expectations, it has been a very successful first six months of 2006 and of Phase IV of our business plan.� Phase IV was initiated to boost Puma’s position as one of the top three global sporting brands in the world, with an aim to becoming the number one in the long term, said Zeitz.

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