Adidas upbeat for 2005 after record year

9th March 2005, Comments 0 comments

9 March 2005 , HERZOGENAURACH - Adidas-Salomon, Europe's largest sports goods manufacturer, said on Wednesday it expected earnings to grow this year by 10 to 15 percent after chalking up record profits in 2004. Chief executive officer Herbert Hainer said the firm was "well positioned to deliver another year of outstanding performance". Last year's sales were up 3 percent to EUR 6.48 billion over the previous 12 months and net income rose 21 percent to a record level of EUR 314 million. "With record perform

9 March 2005

HERZOGENAURACH - Adidas-Salomon, Europe's largest sports goods manufacturer, said on Wednesday it expected earnings to grow this year by 10 to 15 percent after chalking up record profits in 2004.

Chief executive officer Herbert Hainer said the firm was "well positioned to deliver another year of outstanding performance".

Last year's sales were up 3 percent to EUR 6.48 billion over the previous 12 months and net income rose 21 percent to a record level of EUR 314 million.

"With record performance, focused strategy and exciting products in the pipeline, all the pieces are in place for adidas-Salomon," Hainer said.

The company said it expected "mid-to high-single-digit" revenue growth this year. It is to raise its dividend for 2004 by 30 percent to EUR 1.30 per share and exercise an option to repurchase as much as 10 percent of its own shares.

DPA

Subject: German news

 

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