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Adidas with strong financial resport

The shares of German sports equipment manufacturer Adidas reached its highest level in 22 months after the company announced today a profit of 168 million euros for the first quarter and increased expectations throughout 2010. The first quarter 2009 profit of Adidas was much lower - only 5 million. The huge increase is attributed to the sale of a trademark owned by the company and settlement of litigation in its favor. Revenues for the quarter of the giant rose 4 percent to nearly 2.7 billion. This causes the company to raise its forecast for 2010 and now expects earnings per share to be within 2.05 to 2.30 euros a share. Previous expectations were for a positive result of 1.90 to 2.15 euros a share. The company hopes related to this summer's upcoming World Cup in South Africa. Of all the finalists who are 32 teams, with teams playing the German company objectives 12. Shares of Adidas, which is the second largest company in the sporting goods sector in the world after the U.S. Nike, rose 3.3 percent after the report. Gradually, however, optimism has declined and growth has dwindled to 0.2 per cent and cost 44.10 euros per share.
Since the beginning of the year, shares of Adidas have increased by 17 per cent.