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Published
Aug 22, 2018
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Adidas profits edge up in Ireland despite sales decline

Published
Aug 22, 2018

Adidas’ Irish arm saw sales decrease by 11% last year, hit by a decline in the wholesale business, but profits edged up 3% to €909,000.


Adidas


The sportswear giant managed to improve its profitability by cutting back on administrative and distribution costs, whil sponsorship contracts with Munster Rugby and Leinster Rugby contributed to the sales, reported The Irish Independent.

Adidas will continue to supply kits to Munster Rugby after extending its deal in July 2016 for a further five years.

Additionally, the company announced a five-year kit deal with another Irish rugby team, Leinster Rugby, earlier this year. The contracts are expected to boost sales at the German sports company after revenues fell from €34.9m to €31.1m last year. The fall was attributed primarily to a decline in the local wholesale market, said directors in the company’s latest accounts.

Adidas has also sponsorship deals with some of the biggest football clubs including Manchester United, Real Madrid, Juventus and Bayern Munich.

The company paid dividends of €750,000 last year, the same sum it paid out in 2016.

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