Adidas Q2 net profit falls 93 per cent

FRANKFURT: Sportswear company Adidas AG said Wednesday that its second quarter net profit fell 93 percent, mainly because of higher operating expenses.

The Herzogenaurach, Germany-based company said net profit in the April-June period dropped to euro9 million ($13 million) from euro116 million in the second quarter of 2008.

Sales for the period were 3 percent lower, declining to euro2.46 billion from euro2.52 billion.