Adidas raise profit forecast after 21% rise in sales

By iSportconnect | July 28, 2016

German sporting goods group Adidas has raised its 2016 guidance for a fourth time this year.

The company have reported a 21 percent jump in second-quarter sales.

The group said on Thursday it now expected its 2016 currency-adjusted sales to grow at a rate in the high teens.

The original guidance was for a 15 percent increase.

It now also sees net profit from continuing operations rising at a rate of between 35 and 39 percent, herbal | up from a previous forecast for 25 percent growth.