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Adidas sales rise 12%

Adidas Group saw currency-neutral sales rise 12% to €5.1 billion (£4bn) for the first half, and 4% year-on-year in euro terms.

The Adidas brand reported a 16% rise in currency-neutral sales to €3.7bn (£2.9bn) for the first six months of the year but Reebok saw its currency-neutral sales fall back by 2% and sales in euro terms slip behind 11% to €923 million (£723m).

Group currency-neutral sales in Europe rose by 16% to €2.3 bn (£1.8bn). Group gross margin also reached a record level for the first half following a 2.5 percentage point uplift to 49.6%.

Adidas chairman and chief executive Herbert Hainer said: "We are proud to report a strong set of financial results for the first half of 2008. Our performance is nothing short of exceptional, particularly in light of the tougher macroeconomic environment. Adidas and TaylorMade-adidas Golf continue to show strong momentum and we have laid the foundations at Reebok for continued improvement in the second half of the year."

To read the full first half results statement click on the attached Pdf document.

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