Advertisement

Adidas hits currency hurdles but profits up

Share this article

Photo: DPA
09:09 CEST+02:00
German sports clothing giant Adidas could finally be running out of steam, latest profit figures suggest.

In the second quarter of 2013, the world's second biggest sport clothing manufacturer logged a fall in turnover of 3.8 percent compared to last year.

The company said that last year's sales were boosted by football tournament the Euros and the Olympic Games in London, whereas this year there had been no comparable events.

Adidas' performance does appear more stable when profits are adjusted for currency effects – a net profit of €172 million – up four percent on last year due to falling tax demands.

Story continues below…

And company said it remained optimistic, predicting a gross turnover of €14.9 billion this year.

Share this article

Advertisement

From our sponsors

The key to launching your international career

In an increasingly globalised world, how do you get an education that’s simultaneously international and personal? For many students, the answer is EU Business School.

Advertisement
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement