Adidas has released it's fourth quarter results which show profits dipped 64% because of weaker sales and writedowns in the company's China business.

In a company online report, is says income fell to 19 million euros (25.9 million), or 9 cents a share, from 54 million euros, or 27 cents, a year earlier.

The German-based company reports it sales slid 4.5% to 2.46 billion euros.

And it also lost a further 33 million euros relating to its Reebok business in China.

Adidas says its now pinning its hopes on profits generated linked to the Soccer World Cup in South Africa.

It says profits should increase to 400 million euros and sales should rise - but in single digits.

The Adidas Group owns TaylorMade-adidas Golf, Rockport, Reebok-CCM Hockey and Other Centrally Managed Brands.

It's sales in Emerging Markets have increased by 8% supported by strong growth in the Football Category.