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World Cup boosts Adidas profits and revenues

Adidas Group has announced a 4% rise in revenues to €5.26bn (£4.72bn), and a 20% rise in net income to €418m (£375.1m), for the second quarter of 2018.

Figures for first six months of 2018 also showed similar increases, with revenues increasing 3% to €10.8bn (£9.69m) and operating profit rising 17% to €1.34bn (£1.2bn).

Much of the sales increase was attributed to activations around the world cup in Russia. The Sport Performance category and Adidas brand performed strongly during the period, with double digit growth in both areas. Revenues from the Reebok brand decreased by 3%, despite strong performance of the Reebok Classics range.

Kasper Rorstead, CEO of Adidas commented: “We delivered another strong quarter on the back of a successful World Cup activation. Our profitable growth was once again driven by our strategic focus areas North America, Greater China and ecommerce, while we continued to invest into the desirability of our brands and the scalability of our business.

“With these results, we remain firmly on track to achieve our set targets for the full year 2018 and long-term until 2020.”

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