Global revenues lift Nike profits

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Nike has posted a 51% rise in quarterly profit, boosted by strong revenue growth and a one-time tax benefit.

The world's largest sports shoe maker, its net income for the three months to 31 August totalled $570m (Â£284m), up from $377m a year earlier.

Sales rose in all its regions, led by Asia Pacific, ahead by 22%, Europe, up 16%, and South America, up 15%.

Nike's success in the US was more muted, where sales gained just 2%. Its tax benefit added 20% to profits.

The US giant added that it was also now considering a sale of its Bauer Hockey division.