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Adidas   Earnings per share were 1.70 euros

Adidas Q2 profit from continuing operations rises

AdidasAdidas reported that its second-quarter net income from continuing operations was up 16% to 347 million euros from 301 million euros, prior year.

Earnings per share from continuing operations were 1.70 euros compared to 1.47 euros.

READ MORE adidas Group sales increase 12% in Q4

The company's operating profit increased 18% during the second quarter to a level of 505 million euros from 429 million euros.

Sales were up 20% in the second quarter to 5.04 billion euros from 4.20 billion euros, prior year.

Currency-neutral revenues were up 19%. This development reflected a 21% increase at brand adidas as well as a 5% increase at the Reebok brand.

Adidas AG now expects sales to increase at a rate between 17% and 19% (previously: to increase at a rate between 12% and 14%) on a currency neutral basis in 2017.

Net income from continuing operations is projected to increase at a rate between 26% and 28% to a level between 1.360 billion and 1.390 billion euros.

This compares to the original guidance as provided in March of an increase in the company's net income from continuing operations of between 13% and 15% to a level between 1.200 billion and 1.225 billion euros.

Basic earnings per share from continuing operations are expected to increase at a rate between 25% and 27% (previously: to increase at a rate between 13% and 15%).




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