Nike’s fourth quarter profits have been hit by heavy spending on its marketing in the run-up to the World Cup.

Although spend on marketing increased 36% to $876 million (£514 million) in the months ahead of the competition, which contributed to a rise in profits of just 1%, Nike as it said orders for its footwear and sports kits for June to November are $13.3 billion - 11% higher than the same period last year.