Yue Yuen reports strong financial performance for Q1
14/05/2014
In the period covering January, February and March, Yue Yuen reported that turnover in 2014 increased by 7.3% compared to the previous year to reach $1.8 billion, while profits rose by 19.5% year on year to reach almost $420 million.
This was in spite of a small decline in the volume of shoes the group produced over the three-month period. Yue Yuen’s factories in China, Indonesia and Vietnam made just under 76 million pairs of shoes and boots during the quarter, a drop of 0.5%.
In April, strike action at one of its factories in China cost the company $27 million in lost production and increased air-freight costs, the company said.
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