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Adidas reaps the rewards of Olympic sponsorship Friday, 3rd August 2012
Photo credit: Adidas 2012 campaign
The sportswear giant’s £100 million campaign for the Olympics is expected to provide another lift to full-year earnings, which are already coming in at the top of investors’ expectations.
Adidas’s after-tax profit rose 30 per cent to EUR 455 million on sales up by 11 per cent to EUR 6.34 billion. The increase meant the business has now pushed its forecast for full-year profits to between EUR 770 million and EUR 785 million, an impressive 15-17 per cent higher than last year.
"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."
The Independent on Friday reported that Adidas is thought to have spent around £100 million on its Olympic sponsorship and slightly less on Euro 2012.