Nike gives away 3% of its profits

Nike gave away more than three per cent of its profits in the last financial year.

The US-based sportswear multinational says it contributed $29million in cash, product and in-kind services to non-profit organizations and community partners around the world, amounting to 3.2 per cent of its pre-tax profit.

The figure exceeds the company’s annual target of investing three per cent of pre-tax earnings in the communities where Nike employees ‘live, work and play’. Most of the money is spent on work with young people.