Sportswear company Adidas AG said on Wednesday its second-quarter net profit fell 93 per cent as currency effects and tough competition weighed on earnings. The Herzogenaurach,Germany-based company said net profit in the April-June period dropped to euro9 million ($13 million) from euro116 million in the second quarter of 2008,as sales dipped 3 per cent to euro2.46 billion from euro2.52 billion. As well as the sales decline,the worlds second largest sportswear company blamed currency devaluations for the fall in profits.
