3 Aug 2012

Adidas profit forecast raised

12:06 pm on 3 August 2012

Adidas, Europe's biggest sportswear maker, says its full-year profits should be at the top end of forecasts due to this year's Olympics and the European football championship.

The company now expects its full-year profit to rise by between 15% - 17%, compared with an earlier estimate of 12% - 17%.

Chief executive Hebert Hainer says revenue generated as a direct result of the Olympics has surpassed the amount spent on sponsoring the games.

Profit rose by 18% to $US202 million in the three months to June.