Adidas Ireland’s revenues increase

The sales of Munster rugby team tops and Ronaldo Real Madrid jerseys contributed to an uplift in Adidas Ireland’s business last year.

New figures show that the sports giant’s business continued to grow in Ireland in 2011 to record an increase in revenues from €43.2m to €43.6m in the 12 months to the end of December last.

In the previous year, revenues had increased by 25% from €34.6m to €43.2m.

The firm’s post tax profits last year increased by 2% from €1.1m to €1.2m. The directors state that the 1% increase in revenues “is considered as a solid performance in light of difficult trading conditions in the Irish retail market”.

The directors approved an interim dividend of €1.4m during the year.

In the accounts just filed by Adidas (Ireland) Ltd to the Companies Office, the directors state that the results for the year were satisfactory.

They said that during the year, distribution costs increased by 7% however, the year saw a 6% decrease in administrative costs.

Adidas is the kit supplier to the Munster rugby team and rugby World Cup champions, New Zealand. It also provides strips for European football giants, Real Madrid and Bayern Munich, and Premier League teams, Chelsea and Liverpool.

Footballer David Beckham is one of the faces of adidas, while the German-owned brand has also employed designer Stella McCartney to create a sportswear range.

The accounts show that at the end of 2011, the Irish unit had accumulated profits of €1.2m with total shareholder funds amounting to €3.3m.

The company last year upped its advertising spend from €1.58m to €1.94m.

Numbers employed by the company last year increased from 28 to 32 with payroll costs rising from €1.14m to €1.18m

Adidas employs 42,000 employees across the world.