Adidas outlook soars following H1 results

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adidas

German sportswear behemoth Adidas has reported strong first half results, leading it to boost its outlook for the rest of 2017.

Year-on-year revenues jumped 20 per cent to £4.48 billion in the six months to June.

Operating profits also shot up 18 per cent to £452 million against tough comparables, having cashed in on a £63 million payout for Chelsea FC’s shirt sponsor in 2016.

READ MORE: Puma raises full year outlook again after strong Q2 results

The results encouraged the retailer to raise its full-year outlook, now expecting revenues to rise between 17 and 19 per cent, up five per cent on previous estimates.

It has also almost doubled its forecast for net income, now expecting a rise of between 26 and 28 per cent.

Following the announcement share prices soared, rising 7.4 per cent on Friday morning to £170.

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