Adidas runs up 29.6m sales

Brian O'Driscoll: Ireland's rug

SPORTSWEAR company adidas continues to rack up massive sales in Ireland €29.62 million at wholesale prices.

Figures filed with the Companies Registration Office by Adidas (Ireland) Ltd show sales in 2001 hit €29.62m, up 26.6% from €23.4m the previous year.

Adidas this week lined up Irish rugby team captain Brian O'Driscoll in a major sponsorship agreement.

The two-year deal, which runs until the end of 2005, will see the Leinster centre endorse the latest in adidas equipment and apparel.

Adidas Ireland, which is run by the international sportswear company's British operations, employs seven people full time in Ireland.

Company figures show Adidas Ireland made pre-tax profits of €3.11m, up from €2.52m a year earlier.

Despite pushing sales up 26.6% in 2001 adidas managed to pare distribution costs from €2.54m in 2000, to €2.48m.

However, despite employing just six people in 2001, administration costs increased significantly from €1.9m in 2000 to €2.53m in 2001.

The company also managed to reduce its tax bill in 2001 over 2000 despite much higher profits , dropping from €686,930 to €580,270.

The company has no tangible assets in Ireland and financial assets of just €127,000.

Adidas's Irish sales are expected to improve with the signing of O'Driscoll.

Brian O'Driscoll said: "I am delighted to be involved with adidas, who have shown they are a company that is clearly focused on the needs of the modern rugby player. I am excited about what the future holds."

The Irish captain will wear state-of-the-art adidas 9:15 rugby boots, personalised with the number 13 on the heel.