Adidas has emerged from its bruising tie-in with rapper Kanye West and says it expects to make profits of €700m (£598m) in 2024.

In February the German sportswear giant said it planned to sell its remaining Yeezy trainers from its partnership with West for at least cost price.

Tuesday’s upbeat comments from Adidas come a month after the company posted its first losses in 30 years.

It makes Samba, Gazelle and Campus shoes.

The company said the revised figures were €200m more than initially predicted and down to a better than expected first quarter of the year.

The company said its quarterly operating profit had reached €336m, up from €60m a year earlier when it was hit by the break-up with West.

Adidas further said it had sold another €150m worth of Yeezy products in the quarter, at a profit of around €50m.

It said the remainder of its Yeezy stock would probably be sold for about €200m later this year, but without any further profit.

Last year it pledged to donate some of the proceeds of the sales to charities who work on combating hate.

Adidas cut ties with West in November 2022 over antisemitic comments he made on social media, but the company still has a diverse fan base with rich and powerful clients.