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Puma says considering more acquisitions

German sporting goods maker Puma would consider further acquisitions if any potential target complements its products, Chief Executive Jochen Zeitz told a German newspaper Sueddeutsche Zeitung.

“I can well imagine making acquisitions,” he said, adding: “so long as these are complementary to Puma and move it forward.”

Extracts of the interview with daily newspaper were released ahead of its publication on Monday.

Zeitz cited as an example of a good match, Puma's acquisition of the golf equipment brand Cobra, which it bought in March from US diversified consumer products company Fortune Brands Inc for an undisclosed sum.

Touching on Puma's prospective growth, he said the company still believed it had the long-term potential of generating sales of more than €4 billion ($4.88 billion) despite the setback stemming from the recession.

Puma's revenue totaled €2.5 billion last year, when net earnings almost halved and missed analysts expectations as the recession restrained consumer spending and cut household budgets.

Zeitz reiterated Puma's forecast for this year, saying it expected sales growth in low to middle one-digit percentage range while pretax profit should increase by 70%.

Puma is almost 70% owned by French retailer PPR. (Reuters)