Jewellery maker Pandora's Q3 profit falls less than expected, raises sales outlook

Danish jewellery maker Pandora on Wednesday reported a third-quarter operating profit above expectations and raised its full-year sales outlook. Operating profit fell to 920 million crowns ($132 million)from a year-earlier 978 million, against a mean forecast in an analyst poll published by Pandora of 875 million, on organic sales growth of 11%. Its previous forecast was for 2-5% growth.

Danish jewellery maker Pandora on Wednesday reported a third-quarter operating profit above expectations and raised its full-year sales outlook.

Operating profit fell to 920 million crowns ($132 million)from a year-earlier 978 million, against a mean forecast in an analyst poll published by Pandora of 875 million, on organic sales growth of 11%. Pandora said it now expected full-year organic sales growth of 5%-6%. Its previous forecast was for 2-5% growth. It maintained a full-year operating profit margin forecast of around 25%.

($1 = 6.9798 Danish crowns)