Reebok International Limited, along with its subsidiary RILUK IPCO, has reported a significant increase in profit after tax, reaching US $ 163.5 million for the latest reporting period, compared to US $ 77.8 million in the previous year.
The company’s financial year covered a 10-month period, following its acquisition by Authentic Brands Group from Adidas in March 2022.
Global royalty income for Reebok rose to US $ 276 million, while operating profit grew to US $ 177 million, compared to US $ 92 million the prior year. The company attributed the profit growth to reduced marketing and business overheads, coupled with an increase in licensing agreements with robust minimum contractual payments.
Reebok anticipates that these factors will continue driving profits and generate strong cash inflows to support ongoing operations. After the acquisition, RILUK IPCO operates the Reebok brand through its branch in New York, USA.
