Sports apparel sales add to Yue Yuen financial results
Hong Kong-based manufacturer of athletic and casual footwear Yue Yuen Industrial (Holdings) Limited has posted positive financial results for the year ended
Total turnover rose year-on-year by 15.9% to approximately $3,657.4 million and net profit increased by 18.7% to approximately $353.6 million.
Revenues increased significantly in the Greater China region, climbing 80.4% year-on-year to $305 million.
The group recorded sustained sales growth in light of the increase of its footwear manufacturing business and strong contributions from its Greater China wholesale and retail operations. There was a balanced increase in the production of athletic shoes and casual/outdoor shoes, which grew by 11.1% and 12% respectively in fiscal 2006.
The group produced a total of 196.4 million pairs of shoes, a rise of 5.6% compared with the previous year. The average selling price continued its upward trend, reflecting a product mix change and the increase in underlying material costs.
The sports apparel and accessories manufacturing operation recorded a 34.2% increase in turnover to $61.7 million in fiscal 2006.
