In the final quarter of the year, the group’s unaudited consolidated revenue was up by 13.5% year-on-year to US$389.5 million, with growth of 8.5% in the full year result to US$1.49 billion.

Manufacturing revenue for the fourth quarter totalled US$380.3 million, up by 13.5% year-on-year, while the full 2023 result was down by 8.9% to US$1.45 billion.

Shipment volume totalled 13.2 million pairs for the fourth quarter (up 10.9%) and 49 million pairs for the year (down 12.5%). The average selling price was US$28.8 per pair in the fourth quarter (up 2.1%) and US$29.2 per pair in the full year (up 4.2%).

Looking forward, the company reports that is confident in its medium-term goals under its three-year plan and expects an operating margin of 10% and a low teens annualised growth rate on profit after tax in this period.

CEO Chi Lo-Jen said: “The unique, premium products we have developed for our customers are continuing to perform well in the market. Some customers wanted to replenish their inventory and requested earlier shipments in the last quarter of 2023, leading to a better-than-expected performance and further demonstrating the success of our strategy.”