AFP – German sportswear and equipment maker Adidas said on Thursday it is sticking to its full-year profit forecasts after its third quarter came in slightly better than expected.
“The strong performance in the first nine months of 2012 has set the Adidas group up for another year of record financial results,” it said in a statement.
“Management now forecasts group sales to increase at a high-single-digit rate in 2012,” from last year’s 13.344 billlion euros ($17 billion).
That represents only a fractional downward adjustment from Adidas’ previous goal of sales growth “approaching 10 percent.”
And full-year net profit was projected to increase “at a rate of 15-17 percent to a level between 770-785 million euros.
In the third quarter, Adidas said its net profit rose by 14 percent to 344 million euros on an eleven-percent rise in sales to 4.17 billion euros.