The total sales value of shoes produced by the giant footwear manufacturer in the period increased by 3.9% whereas the volume of shoes sold fell by 0.5% to 228.8 million pairs as compared with the same period last year. This includes sales of athletic shoes, casual / outdoor shoes and sport sands. Athletic shoes remain the largest category, increasing by 1.4% compared to similar period in 2013, and reaching 2 848.5 million US dollars. Despite the increase, this product category lost share in the total portfolio of products and now represents 48.0% of total turnover generated by Yue Yuen’s portfolio (compares to 50.5% in similar period in 2013). Sport sandals ' turnover totaled 61.2 million US dollars, a 5.2% increased from last year, and Casual / Outdoor shoes increased by 10.7% to reach 1 087.1 million US dollars. Retail sales, including shoes, apparel and leasing, went up by 14.3%, totaling 1 455.9 million US dollars and representing now 24.5% of the total turnover. Sales of soles, components and others also registered a significant increment, going up by 10.4% and reaching now 483.2 million US dollars (8.2% in the total turnover).


Excluding all items of non-recurring operating nature, the recurring operating profit attributable to owners of the company for the current period amounted to about 319.4 million US dollars, an increase of 9.5% as compared with the same period last year.

During the period, a non-recurring operating loss totaling 110.4 million US dollars was recognized, which includes 90.0 million US dollars of increased contributions to social insurance benefit and housing provident fund for employees in the PRC and 18.8 million US dollars of losses due to fair value changes on derivative financial instruments.

Profit for the period totaled 209.0 million US dollars, down by 36.8% from the 330.5 million US dollars registered in similar period last year.

In the meantime, the company announced 685 million US dollars of net consolidated operating revenue (i.e. equal to the total sales less sales discount and sales return) for the month of November.

Yue Yuen shares were last traded at 3.59 US dollars at the Hong Kong Exchanges and Clearing Limited on the 11th December.