Adidas sees record profits

German sportswear maker Adidas said strong demand for its brand pushed it to record earnings in 2011 and it hoped to beat those again this year on the back of the 2012 Olympics. Adidas said its net profit rose by 18 per cent to €671 million last year,...

German sportswear maker Adidas said strong demand for its brand pushed it to record earnings in 2011 and it hoped to beat those again this year on the back of the 2012 Olympics.

Adidas said its net profit rose by 18 per cent to €671 million last year, with earnings per share hitting a record high of €3.20.

Operating profit grew by 13.1 per cent to €1.011 billion on an 11.3 per cent increase in sales to €13.344 billion.

The 2012 Olympics in London and the football European Championships would enable Adidas to race to record earnings again this year, Adidas said.

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