Adidas scores with sponsorship
Friday 03 August 2012
Sponsoring the Olympics and the Euro 2012 tournament will help the sportswear manufacturer Adidas's full-year earnings to hit the top end of investors' expectations.
"We have delivered another winning performance in the first half of 2012," said the chief executive, Herbert Hainer. "Our clear victory in the summer of football, our increased operating margin and our excellent inventory management show we have the right formula to preserve and sustain our positive earnings."
Adidas's after-tax profits rose by 30 per cent to €455m (£359m) on sales up by 11 per cent at €6.34bn. It nudged its forecast for full-year profits up to between €770m and €785m – 15-17 per cent higher than last year.
Adidas, reported to have spent about £100m on the Olympics and slightly less on Euro 2012, said its marketing spend is similar to last year but concentrated on those two events.
Mr Hanier said: "We are capitalising on our involvement in the London Games... this excellent event will inspire a generation to get into sport."
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