HispanicBusiness

Adidas has increased its full-year business outlook after the Olympic Games helped the group post an 18-percent increase in second-quarter earnings, the German sportswear maker said Thursday.

The company said its net profit during the three months to the end of June rose to $203 million (165 million euros from 140 million euros in the same period last year).

Revenue climbed by 14.8 per cent to 3.52 billion euros from 3.06 billion euros.

The pickup in earnings followed solid demand in the world's leading emerging markets as well as a boost to sales resulting from big sporting events such as this year's European football championship and the Olympics.

Adidas said it would increase its annual target to net earnings of between 15 and 17 percent instead of a previous forecast of 12-17 percent.