ADIDAS AG, reaping the benefits of major Olympic and soccer promotions last year, said yesterday that 1996 operating profit surged behind record sales, but its shares were left flat-footed by profit-taking.

Adidas shares fell 6 per cent from their peak of 173 deutschmarks yesterday to end down DM6.20 at DM162.30, despite a rise in operating profit to DM360 million (£135.25 million) from DM243 million in 1995 as sales surged 35 per cent to DM4.71 billion.

Industry analysts tied the share losses in Adidas, which went public in November 1995, to profit-taking and noted the company had reaffirmed higher sales and profit forecasts at an analyst meeting and a news conference.