The group’s Q3 and H1 bottom lines benefited from gains from discontinued operations (€70m and €72m, respectively) and from much-lower-than-expected tax rates, down by 3.2pp to 25.6% and by 2.7pp to 25.5%. Consequently, net earnings were higher than anticipated. The outlook is somewhat uncertain and depends on potentially more US import duties for Chinese goods.
08 Aug 2019
Operating earnings were slightly disappointing
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Operating earnings were slightly disappointing
adidas AG (ADS:WBO) | 0 0 1.8% | Mkt Cap: 37,743m
- Published:
08 Aug 2019 -
Author:
Hans-Peter Wodniok -
Pages:
2
The group’s Q3 and H1 bottom lines benefited from gains from discontinued operations (€70m and €72m, respectively) and from much-lower-than-expected tax rates, down by 3.2pp to 25.6% and by 2.7pp to 25.5%. Consequently, net earnings were higher than anticipated. The outlook is somewhat uncertain and depends on potentially more US import duties for Chinese goods.