Adidas'S Net Loss Last Year

According to Germany

The latest report released by the Adidas group is under its banner.

As a result of strong sales in several regions, the group's net loss in the fourth quarter was narrowed to 44 million euros from 139 million euros last year.

Annual net profit rose 29% to 640 million euros, and sales rose 10% to 16 billion 900 million euros.

Net profit rose by 68.7% in the fourth quarter ending December 31, 2015, although it was 31% higher than the same period last year.

This performance was affected by a non operating goodwill impairment loss of 34 million euros, involving fourth US $16 million in the fourth quarter and $17 million 800 thousand in Latin America.

The group's fourth quarter sales rose 12% to $4 billion 200 million, mainly driven by its brands Adidas and Reebok, which rose 16% and 5% respectively.

For the whole year, group net profit rose 29% to 640 million euros, and sales rose 10% to 16 billion 900 million euros, mainly driven by sales of double-digit growth in Western Europe, Greater China, the United States, Middle East, Africa and Asia.

Chief executive Herbert Hainer believes that 2015 was a very successful year.

The group achieves all major financial objectives and exceeds its initial goal.

For the development of 2016, the group will remain optimistic and believe that the state is stronger than ever.

Adidas group has increased its revenue forecast in 2016 and expects double-digit growth this year.

Sporting goods manufacturer Adidas group, headquartered in Germany, will participate in the European Football Championship held in France and the Olympic Games in Rio.