Adidas Irish arm pre-tax profits fall 85%

THE official kit supplier to the Munster rugby team, Adidas, last year sustained a collapse in its pre-tax profits in its Irish operations.

Documents just filed with the Companies Registration Office show Adidas Ireland Ltd’s pre-tax profits dropped 85% from €10.4m to €1.5m

The accounts confirm that the sharp decrease took place after the company recorded a 34% drop in sales from €52.7m to €34.6m to the end of December last.