Adidas confident of meeting objectives

FRANKFURT: German sporting goods maker Adidas yesterday said it was confident of meeting its objectives for the year, after a huge leap in profits in the first quarter. Net profit at the group grew 29.6 per cent to reach €455 million (RM2.14 billion) between January and March, outpacing revenue growth of 18.9 per cent to €5.7 billion. Operating or underlying profit grew 28.8 per cent to reach €632 million. Adidas pointed to standout performances in North America and China, where revenues rose 31 and 30 per cent, respectively, followed up by Japan and its Middle East and Africa regions.