Adidas sees Irish profits rise 20%

A PARTIAL recovery in the retail market last year resulted in operating profits at the Irish arm of sportswear giant Adidas increasing by 20% to €1.2 million.

Documents just filed with the Companies Office show that revenues at Adidas (Ireland) Ltd last year increased by 25% from €34.6m to €43.2m in the 12 months to the end of December last.

The directors state that a key factor in the 25% sales increase “was the partial recovery in the Irish retail market”.