German sports goods giant Adidas AG (ADDDF.PK, ADDYY.PK) posted 17.9% higher second-quarter net income attributable to shareholders of 165 million euros, compared with last year's 140 million euros, with quarterly earnings per share rising 18% to 0.79 euros, from 0.67 euros in the 2011 period.
Net sales totaled 3.52 billion euros, up 14.8% from 3.06 billion euros in the previous year. In the second quarter of 2012, Group revenues grew 7% on a currency-neutral basis, driven by double-digit sales increases in Retail and Other Businesses.
Looking ahead, the company said it continues to forecast Group sales to increase at a rate approaching 10% on a currency-neutral basis in 2012.
For 2012, net income attributable to shareholders is now projected to increase at a rate of 15% - 17% to a level between 770 million euros and 785 million euros, compared with its earlier expectation of a growth at a rate of 12% - 17% to a level between 750 million euros and 785 million euros. Full-year basic earnings per share is currently estimated to lie between 3.68 euros and 3.75 euros, versus its previous range of 3.58 euros and 3.75 euros.
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