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Last Updated: Monday, 27 June, 2005, 14:01 GMT 15:01 UK
Profits jump at sports giant Nike
Nike Shox
Expensive shoes like the Nike Shox helped profits sprint ahead
Rising sales of high-priced trainers helped Nike unveil a rise in profits for the three months to May.

The sportswear firm said profits rose to $349.5m from $305m a year earlier, taking full-year earnings to $1.21bn from $945.6m last year.

Sales rose across the globe, led by the Americas and Asia-Pacific regions where sales rose 20% and 19% respectively.

Looking ahead, the US-based sportswear firm said it expected another year of "profitable expansion".

It added current orders were up 9.5% on last year, with "all regions posting increases and US footwear remaining particularly healthy".

"The Nike brand is exceptionally strong, driving full-year revenue gains across all regions and product lines, while Converse and Cole Haan led the growth in our portfolio of other businesses," president and chief executive William D Perez said.

"Today's record earnings were driven by healthy revenue growth and the highest gross margin in the company's history."

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