World Footwear

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Yue Yuen: sales up by 5%

Nov 18, 2019 Hong Kong
Yue Yuen: sales up by 5%
The Hong Kong based footwear manufacturer registered revenue of 7 519.6 million US dollars for the first nine-months of the year, growing by 5%
The group recorded revenue of 7 519.6 million US dollars in the nine months ended on the 30th of September 2019, representing an increase of 5.1% compared to revenue of 7 151.9 million US dollars recorded in similar period in 2018.

Profit attributable to owners of the company increased by 12.1% to 229.4 million US dollars, compared to 204.6 million US dollars recorded in the same period in 2018.

Total revenue attributable to the footwear manufacturing activity (including  athletic  shoes, casual/outdoor shoes and sports sandals) during the period increased by 4.0% to 4 086.7 million US dollars, whereas the volume of shoes increased by 1.4% to 239.7 million pairs and average selling price increased by 2.6% to 17.05 US dollars per pair, as compared with the same period of last year primarily due to product portfolios optimization. The group’s total revenue with respect to the manufacturing business (including footwear, as well as soles, components and others) during the period reached 4 437.3 million US dollars, representing an increase of 2.9%, as compared with the same period of last year.

During the period, revenue attributable to Pou Sheng, the group’s retail subsidiary, increased by 14.3% to 2 910.5 million US dollars, compared to 2 547.4 million US dollars in similar period last year. In renminbi (RMB) terms (Pou Sheng’s reporting currency), revenue during the first nine months in 2019 increased by 20.2% to 19 996.0 million renminbi, compared to 16 636.1 million renminbi in the same period of last year.

The company also reported revenue of 171.8 million US dollars for its apparel wholesale segment (TCHC Group), a decline of 41.2% from similar period in 2018 (292.2 million US dollars).

Image credits: Adeolu Eletu on Unsplash

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