Adidas net profit sprints ahead in 2005, despite loss in fourth quarter

0 Comments | AFP, March, 2006

HERZOGENAURACH, Germany (AFP) — Adidas, the German maker of sportswear and equipment, said that net profit was up in 2005, despite a fourth-quarter loss related to the costs incurred by the acquisition of Reebok and marketing for the World Cup soccer championships this year.

Nevertheless, Adidas was very optimistic with regard to the business outlook for 2006.

The group said in a statement that it booked bottom-line loss of four million euros (4.8 million dollars) in the last three months of last year, compared with profit of 20 million euros a year earlier.

Nevertheless, taking the year as a whole, net profit jumped by 21.8 percent to 383 million euros on a 13.2-percent rise in sales to 6.636 billion euros.

Adidas said that as official sponsor for...