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Sportswear company Adidas AG has reported that first-quarter net profit rose 38 per cent to 289 million euros ($A367.7 million), helped by strong sales in China and lower borrowing and tax expenses.
Revenues rose 14 per cent to 3.8 billion euros, adidas adizero crazy light low black for cheap，the company said on Monday, as China and other Asia markets saw a 26 per cent improvement in sales, after exchange rate fluctuations were stripped out. That compared with a weaker 7 per cent in Western Europe.
Adidas raised its outlook for the year, helping send its stock sharply higher. It said full-year earnings would increase 12-17 per cent instead of 12-15 per cent, and sales would rise "at a rate approaching" 10 per cent instead of a mid- to high-single digit increase.
It said stronger sales helped the company overcome what it said were higher raw materials costs,adidas adizero crazy light low black for sale.
Adidas AG shares traded 5.2 per cent higher at 62.96 euros in afternoon trading in Europe.
The company also acknowledged "commercial irregularities" discovered at its Reebok India business could impact earlier financial statements by up to 125 million euros pre-tax.
It said it had installed a new management team there but the sensitivity of an investigation meant it couldn't provide details. Since the losses occurred before 2012, the company said it might have to restate the prior year's statements.
"Management assures its stakeholders that it has, and will continue to, vigorously pursue a course of action to protect the Group's interests, adidas adizero crazy light low black, which has already resulted in the appointment of a new local leadership team in India at the end of March," the company said in a statement.
Revenues rose 14 per cent to 3.8 billion euros, adidas adizero crazy light low black for cheap，the company said on Monday, as China and other Asia markets saw a 26 per cent improvement in sales, after exchange rate fluctuations were stripped out. That compared with a weaker 7 per cent in Western Europe.
Adidas raised its outlook for the year, helping send its stock sharply higher. It said full-year earnings would increase 12-17 per cent instead of 12-15 per cent, and sales would rise "at a rate approaching" 10 per cent instead of a mid- to high-single digit increase.
It said stronger sales helped the company overcome what it said were higher raw materials costs,adidas adizero crazy light low black for sale.
Adidas AG shares traded 5.2 per cent higher at 62.96 euros in afternoon trading in Europe.
The company also acknowledged "commercial irregularities" discovered at its Reebok India business could impact earlier financial statements by up to 125 million euros pre-tax.
It said it had installed a new management team there but the sensitivity of an investigation meant it couldn't provide details. Since the losses occurred before 2012, the company said it might have to restate the prior year's statements.
"Management assures its stakeholders that it has, and will continue to, vigorously pursue a course of action to protect the Group's interests, adidas adizero crazy light low black, which has already resulted in the appointment of a new local leadership team in India at the end of March," the company said in a statement.
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