HERZOGENAURACH, Germany: Sports equipment giant Adidas reported fourth quarter net profit of €13 million ($17m £8.8m), compared with a €4m loss a year earlier.
The figures were the result of savings linked to the 2005 purchase of rival Reebok International and higher sales of golf gear. Overall sales climbed 48% to €2.25 billion.
Comments ceo Herbert Hainer: "Our focus this year will be getting Reebok back onto a growth track and again achieving further improvements in sales and bottom-line profitability."
Full-year net income rose 26% to €483m as sales gained 52% to €10.1 billion. The company says it expects profit growth this year to "approach" 15% as sales increase at a "mid single-digit" pace.
Data sourced from Bloomberg.com (Germany); additional content by WARC staff