Adidas, the world’s second biggest sports clothing and equipment maker, raised its full-year targets yesterday and gave an upbeat outlook for 2011 after unveiling a strong third quarter profit.

Adidas said net profit jumped by 25 per cent from the same period a year earlier to €266 million, on sales that gained 20 per cent to €3.47 billion, owing in part to foreign exchange effects.

For all of 2010, the group forecast an eight percent sales increase and profit per share of between €2.68 and €2.70, which would mean a net profit of €560 - €565 million.

It had previously expected sales to gain between three and eight percent and profit per share to come in between €2.50 and €2.62.

Detailed projections were given because Adidas’ fourth quarter is normally weak and should not change the overall result significantly.

The German group also gave an outlook for next year, when it expects “further gradual improvements in the consumer environment.”

As a result, sales by Adidas and it US brand Reebok are forecast to grow by around five percent and net profit by 10-15 per cent.

Adidas produces most of its products outside the eurozone and the single currency’s recent rise in value has thus not affected it markedly.

Moreover, the group said sales of its clothing, footwear and TaylorMade golf equipment were strong in almost every geographical region, and especially in Germany, Britain and North and South America.

Chief executive Herbert Hainer said: “We have made an explosive comeback in 2010, and I fully expect us to round off the year on a high.”