The company achieved consolidated revenue of US$827.2 million in the period, an increase of 18.9% year-on-year.

Stella attributed this growth to increased orders within the manufacturing business, and shipment volumes increased by 9.4% to 29 million pairs.

Reported operating profit for the period increased by 89% to US$68.6 million, and the group achieved net profit of US$60.2 million, up from US$32.2 million in the same period of last year.

Looking forward, the company said in a statement: “The rapidly changing macroeconomic and geopolitical environment is clouding our order book visibility for the second half of the year although we remain cautiously optimistic about seeing a moderate increase in full-year shipment volumes compared to 2021.

“We are committed to our major long-term capacity expansion projects, with the ramp-up of our new manufacturing facility in Solo, Indonesia, remaining on track. We also remain committed to our previously announced plan to invest in a new manufacturing facility in another part of Indonesia for our major Sports customers.”

CEO Chi Lo-Jen said: “Our performance in the first half of the year was within expectations as we continued to implement and benefit from our margin-accretive strategies. While external pressures this year have turned out to be higher than expected, we have weathered the storm well so far as a result of our strategy to enhance our customer portfolio with a focus on Sports and Luxury categories, alongside a strong recovery in our Fashion category.”