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Yue Yuen with rising sales and net income

Aug 22, 2015 China
Yue Yuen with rising sales and net income
The footwear manufacturer has announced consolidated results for the first half of 2015 marked by impressive net income growth
Yue Yuen Industrial has announced an increase in revenue of 7.4%, amounting to 4.25 billion US dollars for the first half of 2015 fiscal year.

Gross profit was up by 8.3%, reaching 959.2 million US dollars compared to 885.5 million US dollars in the same period last year. However, the manufacturing operations involving international brands fell slightly due to rising costs for direct materials and labour as well as for production overhead compared to the same period last year.

Recurring operating profit was down 4.3%, to 208.8 million US dollars compared to the same period last year. Non-recurring operating profit attributable for the period was 1.5 million US dollars and total net profit amounted to 210.3 million US dollars, up by 107.3% compared to 101.4 million US dollars in the first half of 2014.

Sales of athletic shoes and sports sandals were up by 4.4% and 5.4%, respectively. Sales of casual shoes declined by 4.0%.

Total volume of shoes sold increased slightly to 159.1 million pairs for the period.

Sales of sportswear in the Greater China Region, both retail and wholesale, were up by 23.2% reaching 1.19 billion US dollars for the period compared to 963.2 million US dollars in the previous year. This increase was mainly driven by the strategies to improve operating efficiency and increase the number of stores in the network, as well as selecting more popular merchandise for stocking.

Yue Yuen manufactures and distributes athletic footwear as well as leisure, casual and outdoor footwear.

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