adidas shares take flight after golden olympic year
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Adidas shares take flight after golden Olympic year

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleAdidas shares take flight after golden Olympic year

The European Championships in France helped pushed Adidas
Frankfurt am Main - AFP

Shares in German sports goods maker Adidas leapt in Frankfurt on Wednesday as the firm reported record profits for Olympic and European Championship year 2016 and offered confident forecasts.
Adidas stock gained up to 8.0 percent in early Frankfurt trading, before falling back to 171.70 euros ($181.27), 7.5 percent higher than they opened, just before 0845 GMT.
The Bavaria-based firm earlier said it increased net profit by 60.5 percent, to 1.02 billion euros ($1.07 billion), topping a billion for the first time in its history and beating both its own forecasts and analyst predictions.
Chief executive Kasper Rorsted hailed 2016 as an "exceptional year" for Adidas, with double-digit growth in almost all regions of the world.
Adidas increased operating, or underlying profit 41 percent to almost 1.5 billion euros, on revenues of 19.3 billion euros, up 14 percent over 2015's figure.
The firm said it was able to increase revenues despite "severe headwinds linked to negative currency effects", adding that revenues increased 18 percent if corrected for exchange rates.
"Building on our performance, our momentum continues and we will again achieve strong top- and bottom-line improvements in 2017," Rorsted said.
Looking to this year, the company predicts revenue growth of between 11 and 13 percent, adjusting for currency effects, and aims to increase its profit by 18-20 percent to around 1.2 billion euros.
Much of 2016's success for Adidas was down to strong growth of 16.6 percent at its central three-striped brand, which accounts for the lion's share of its revenues, while Reebok grew much more modestly at 1.1 percent.
Sales at golf equipment subsidiary TaylorMade continued a run of bad performance, falling back slightly over the year.
Citing its strong results, Adidas said it would offer shareholders a dividend of 2.00 euros per share for 2016, up from 1.60 euros for the previous year.


Source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

adidas shares take flight after golden olympic year adidas shares take flight after golden olympic year

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 21:30 2017 Wednesday ,01 November

New York Times’ third-quarter revenue up 6.1%

GMT 11:09 2017 Friday ,24 November

Berlin police seeking more missing John Lennon items

GMT 06:34 2017 Saturday ,09 December

Rockets down Jazz for eighth straight NBA win

GMT 23:25 2017 Thursday ,16 February

Pakistan adds 16 new fighter jets to its fleet

GMT 10:50 2018 Tuesday ,23 January

Saudi university to open driving school for women

GMT 03:31 2017 Saturday ,07 January

Sharjah launches award for refugee support

GMT 21:54 2016 Wednesday ,01 June

December 21 - January 18

GMT 16:05 2017 Monday ,24 April

Sharapova's return divides rivals

GMT 13:50 2012 Sunday ,22 January

Egyptians can now remove any regime

GMT 07:26 2017 Sunday ,23 July

70 villagers kidnapped in Afghanistan
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle