Sportswear firm Adidas has revealed a profit increase of 32 per cent for the first quarter of the year, with golf manufacturer Taylormade-Adidas making a significant contribution to the rise.
Chief executive Herbert Hainer described the Taylormade brand as one of Adidas'' main "growth engines" in 2008, with golf sales increasing by 17 per cent on a currency neutral basis, the Associated Press reports.
The German company, currently the second largest sports equipment maker in the world after Nike, predicted that net profits will grow by at least 15 per cent over the course of the year.
Mr Hainer commented: "We are off to a fast start to 2008.
"As a group, we are stronger than ever before. Most importantly, group profitability has improved substantially."
The firm''s net profit for the January to March period rose from €128 million (£101 million) in 2007 to €169 million this year.
Players who use Taylormade clubs include Daniel Chopra, Retief Goosen and Brandt Snedeker.
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