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Business

Puma Chases Record Profits

German sportswear manufacturer Puma says an increasing number of purchase orders has strengthened its predictions of a significant rise in profits for 2004. "Considering Puma's position as a sought-after sports and lifestyle brand, and the strong growth in the purchase orders for the first half of 2004, we are expecting more than a 10 percent growth in revenue for the sixth year in a row," said Puma's CEO Jochen Zeitz on Tuesday. Puma also made headlines on Tuesday with the announcement that it will take world soccer association FIFA to court over a controversial decision to ban a one-piece team uniform designed by the company. According to Puma spokesman Horst Widmann, the company is seeking compensation for a penalty brought against Cameroon in the recent African Cup of Nations in Tunisia for wearing the unusual kit. FIFA sued Cameroon's soccer association €125,000 ($149,000) and docked the team six points ahead of the qualifying round for the 2006 World Cup.