Adidas first quarter profit up 25 percent

5th May 2011, Comments 0 comments

Adidas, the world's second biggest sportswear and equipment group, on Thursday announced first quarter profits of 209 million euros ($ 310 million), up 25 percent on the same period last year.

Analysts polled by Dow Jones Newswires had expected a hike of just 8.3 percent.

Profits were boosted by increased sales, up 22 percent between January and end of March at 3.3 billion euros, the firm said in a statement. Sales were particularly strong in north America, China, and Russia.

Operational profit was up 21 percent at 313 million euros over the same period,

Adidas had earlier announced that net profits for 2010 had more than doubled to 567 million euros ($780 million) from 245 million euros in 2009.

© 2011 AFP

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