Adidas lifts 2018 outlook on strong results

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Adidas AG (ADS.XE) on Wednesday raised its outlook for 2018 on the back of strong third-quarter results.

The German sporting-goods company said it now expects net income from continuing operations of between 1.66 billion euros and 1.72 billion euros ($1.89 billion and $1.96 billion), an increase of between 16% and 20% on the year previous.

However, Adidas projects currency-neutral revenue growth of between 8% and 9% compared with previous forecasts of around 10%. The company blamed the cut to estimates on lower-than-expected growth in Western Europe.

Adidas said it expects the gross margin to improve by up to 1% and this, together with the projected top-line growth, should result in an increase in operating profit of around 12% and 16%.

The company said revenue in the third quarter was EUR5.87 billion, up 8% on a currency-neutral basis.

Adidas said its third-quarter operating profit rose 13% to EUR901 million.

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Adidas Lifts 2018 Outlook On Strong Results
Adidas Lifts 2018 Outlook On Strong Results
Adidas Lifts 2018 Outlook On Strong Results
Adidas Lifts 2018 Outlook On Strong Results
Adidas Lifts 2018 Outlook On Strong Results

Adidas Lifts 2018 Outlook On Strong Results

Adidas Lifts 2018 Outlook On Strong Results

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