Frankfurt. Adidas has reported about the quarter profit and has lowered own forecasts

22.12.2006
The German company on manufacture of sportswear and footwear Adidas on Thursday on November, 9 has informed that its net profit distributed among shareholders, concluded 244 millions euro ($312 millions). Such facts has exceeded expectations of the economists interrogated by agency Reuters who were predicted figure in 231 millions euro in III quarter.

For one year quarter sales of the company have grown on 53 % up to 2,949 billions euro that has also exceeded the forecast in 2,877 billions euro. However sales of company Reebok which has been got by Adidas in the beginning of the year, for the period from February till September have decreased on 7 %. In connection with intention to increase the investment to Reebok and publicity expenses of its production, company Adidas has lowered the forecasts on 2006 and 2007 years.

For all of 2006 Adidas plans to receive net profit in a range 480-490 millions euro. Earlier was referred the figure in 500 millions euro. And the net profit for 2007, by calculations of the company, will exceed a parameter of 2006 not on 20 %, and on 15 %.

Source: k2kapital.com