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Last Updated: Monday, 19 September 2005, 13:32 GMT 14:32 UK
Nike profits leap on shoe demand
Nike sports shoes
Sales of Nike shoes continued to rise around the world
US sportswear group Nike has posted a better than expected 32% rise in profits, boosted by strong sales in the Americas and Asia-Pacific regions.

Net income was $432.3m (239.4m) during the three months to the end of July, compared with $326.8m a year earlier.

Sales rose by 8% to $3.86bn and Nike said its worldwide orders for the next five months were up.

The firm, which also owns the Nike Golf and Converse brands, said demand for its Nike-branded shoes remained strong.

"Our results show continued healthy demand for Nike product worldwide and we remain optimistic about our ability to meet our future goals," said Nike's president and chief executive William D Perez said.

Advance orders

Worldwide orders scheduled for delivery from September to January next year grew by 11% to $4.9bn, the company said.

Shares in the company indicated that they would open more than 3% higher when trading began on Wall Street on Monday.

Analysts said the company was helped by the weakness of the US dollar, which boosted the value of foreign sales.


SEE ALSO:
Profits jump at sports giant Nike
27 Jun 05 |  Business
Nike opens up in standards drive
13 Apr 05 |  Business
New Nike boss brings profit rise
18 Mar 05 |  Business
Nike hits back at Neville claim
10 Feb 05 |  Internationals


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