Headquartered in Hong Kong, Yue Yuen Industrial has announced an increase in revenue for the group of 7.4%, amounting to US$4.25 billion for the first half of 2015 fiscal year, beginning in January.

Gross profit is up 8.3%, meaning US$959.2 million compared to US$885.5 million 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 attributable to Owners of the company is down 4.3%, to US$208.8 million compared to the same period last year

Non-recurring operating profit attributable for the period is US$ 1.5 million and total net profit amounts to US$ 210.3 million, up 107.3% compared to US$ 101.4 million in the first half of 2014.

Sales of athletic shoes were up by 4.4% but casual shoes declined 4%. 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 23.2 % to US$1.19 billion for the period compared to US$963.2 million in the previous year. This increase is due to strategies to improve operating efficiency and increase the number of stores in the network, as well as selecting more popular merchandise for stocking.

Along with its subsidiaries, Yue Yuen manufactures and distributes athletic footwear as well as leisure, casual and outdoor footwear.

Source: Irasia.com