Adidas net profit increased by 17.1% in the first quarter

The German sporting goods manufacturer Adidas reported that in the first quarter its net profit increased by 17.1% relative to the same period a year earlier, reaching 632 million euros. The index exceeded the forecasts of economists, who had expected its growth to 567 million euros. Net profit from continuing operations was 16.5%. Revenues amounted to 5.88 billion euros, rising by 6.1% over the year. The market forecast assumed a figure of 5.8 billion euros. The company reported an increase in operating profit margin by 1.4 percentage points to 14.9%. Adidas increased sales in North America by 11.2%. Its rate in the Asia-Pacific region grew by 15.2%. Sales in Western Europe decreased by 3.3%. Adidas increased sales in the global market by 6.8%, while the Reebok brand fell by 4.7%.

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