The world's leading sportswear maker Adidas has published its financial results for the second quarter of 2011, stating that its operating revenue in Greater China increased by 31%.
According to the financial report, Adidas' worldwide operating revenue increased by 5% year-on-year to EUR3.06 billion; while its net profit increased by 11% year-on-year to EUR140 million. Greater China led the growth among its many regions with 31% operating revenue increase and markets like French, Germany, Italy and Spain also saw outstanding performance.
Herbert Hainer, chief executive officer of Adidas, said that the price increase of materials like rubber continued to bring pressures on its profit rate. The company plans to improve its profit level by raising prices of products and improving production efficiency.
Adidas predicted excluding the impact of exchange rate, its operating revenue for the entire year will increase by 10%, which is a little higher than previous expectation. The company also said its annual profit per share will increased by nearly 15%.
Hainer announced during a telephone conference after the release of the financial report that the discussions with retailers and the market share statistics all indicate that the sales of Adidas' products are better than ever.