The Adidas Group has reported record profits for 2011, when Central and Eastern European markets helped drive growth. Net income in 2011 reached EUR 671 million, representing an 18 percent increase. Adidas expects a profit bonanza in 2012 from the Olympic Games and 2011's results are hailed as a great start for the company's strategy for next few years.

“It is important to gain momentum quickly and set a precedent by hitting targets fast. In this respect, we couldn't have asked for a better start. We enjoyed the Group's fastest organic growth rate since 2006, as sales increased 13 percent currency neutral,” said Adidas Chief Executive Herbert Hainer.

Overall, currency neutral revenues grew by 11 percent in the final quarter of 2011, however, in the Emerging European area, which includes Romania, revenues rose by 20 percent. This made the region Adidas' best performer for Q4 revenues, outstripping China – 13 percent up and North America – 19 percent up.

Adidas is a global sports brand founded by the eponymous Adolf “Adi” Dassler in 1948. Originally Adolf was in business with his brother Rudolf, but they split and Rudolf went on to found another sports firm, Puma. In 2006, Adidas acquired rival sports brand Reebok.

Liam Lever, liam@romania-insider.com