November 7, 2018 / 6:15 AM / 13 days ago

Adidas hikes 2018 profit guidance after Q3 results

BERLIN, Nov 7 (Reuters) - Germany’s Adidas hiked its 2018 profit guidance, citing a strong financial performance in the first nine months of the year, but trimmed its revenue aim due to weaker than expected growth in Western Europe.

The group said on Wednesday it now saw its net income from continuing operations growing 16 to 20 percent between 1.66 billion to 1.72 billion euros ($1.90-1.97 billion), compared with previous guidance for 13 to 17 percent growth.

It now expects its full-year currency-neutral sales to grow by 8 to 9 percent, less than the previous forecast for an increase of around 10 percent.

$1 = 0.8731 euros Reporting by Maria Sheahan, editing by Riham Alkousaa

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