COPENHAGEN (Reuters) -Denmark’s Pandora, the world’s biggest jewellery maker, said on Wednesday it now expects operating profit growth this year at the upper end of its forecasted range while it reported quarterly operating profit a tad below forecasts.
“We are very pleased with our strong results this quarter, particularly in the context of the current macroeconomic backdrop,” CEO Alexander Lacik said in a statement.
Operating profit rose to 980 million Danish crowns ($140.87 million) in the third quarter from 920 million a year earlier, slightly below the forecast of 991 million in a company-compiled poll.
Pandora said it now expects full-year organic operating profit growth of between 11% and 12% compared to its previously guided range of 9-12%. The company also raised its outlook in May and August.
It still expects an operating margin this year of around 25%.
(Reporting by Isabelle Yr Carlsson, editing by Louise Rasmussen and Stine Jacobsen)
