Companies

Yue Yuen with revenue growth

Jul 23, 2018 Hong Kong

Revenue posted by the Hong Kong headquartered footwear group increased by 8.9% in the first three months of the financial year

The group recorded revenue of 2.3 billion US dollars in the first trimester of 2018 (ended on the 31st of March), an increase of 8.9% compared to revenue of 2.1 billion US dollars recorded in the same period in 2017.

Profit attributable to owners of the company decreased by 23.3% totaling 95.4 million US dollars, compared to 124.5 million US dollars recorded in the same period in 2017. This performance was mainly driven by operating deleverage from the sales decline within the manufacturing business, a reduction of the non-recurring gain for the period, as well as higher finance costs during the period.

Total revenue attributable to footwear manufacturing activity (including athletic shoes, casual/outdoor shoes and sports sandals) during the period decreased by 6.3%, reaching 1.2 billion US dollars, whereas the volume of shoes produced and average selling price per pair decreased by 5.1% to 76.6 million pairs and by 1.3% to 15.75 US dollars per pair, respectively, as compared with the same period of last year.

Total revenue for the manufacturing business (including footwear, as well as soles, components and others) and the apparel wholesale business during the period under analysis totaled 1.4 billion US dollars, representing an increase of 0.3%.

Hong Kong Companies Footwear Yue Yuen