Yue Yuen reports revenue up by 6.7%
The Hong-Kong-based company has announced its results for the first nine months of the year. Revenue continues to increase, with a major contribution from the retail segment (+19.4%)
Yue Yuen recorded revenue of 6.7 billion US dollars in the first nine months of the current fiscal year, representing 6.7% growth compared to revenue of 6.3 billion US dollars recorded in similar period in 2016.
Athletic shoes reinforced their position as the main segment within the footwear manufacturing business, growing by 3.0% and representing 47.8% of total revenue generated by the group. Revenue generated by the manufacturing of Casual / Outdoor shoes and Sports Sandals, has declined, by 3.5% and 13.6%, respectively.
Total revenue for footwear manufacturing activity in the period increased by 1.5%, whereas the volume of shoes sold increased by 1.1% to 238.7 million pairs as compared with the same period last year. Both volume and average selling price recorded increase over the period.
The group’s retail business, including Pou Sheng and others, grew by 19.4% to 2,2 billion US dollars in the nine months period when compared to revenue of 1 843.6 million US dollars for the same period last year. In RMB terms, Pou Sheng revenue for the first nine months in 2017 increased by 14.1% to RMB 13.9 billion compared to RMB 12.2 billion in the same period last year.
Profit attributable to owners of the company increased by 4.5% totaling 395.9 million US dollars compared to 378.8 million US dollars recorded in similar period in 2016.