Anta Sports reports H1 FY20 revenue of RMB15 bn

25 Sep '20

2 min read

Pic: Shutterstock

Anta Sports Products, a Chinese sportswear company, announced its interim results for first half (H1) of FY20 ended on June 30. Revenue for the period fell 1.0 per cent to RMB14.67 billion (renminbi) compared to RMB14.81 billion in the same period previous fiscal. Profit for the period decreased 26.5 per cent to RMB1.78 billion (H1 FY20: RMB2.42 billion).

“The year 2020 is unlike any others. As a result, we needed to dig into the essence of the company by focusing on consumer demands, in order to accelerate our customers, products and channels reform to achieve consumer orientation by enhancing our product power, brand power and retail power. We also needed to thoroughly understand the changes in consumer demands and behaviours to continuously improve our products,” Ding Shizhong, chairman and CEO of Anta Sports, said in a press release.

Gross profit for the period was RMB8.33 billion. Profit from the operations dropped 15.3 per cent to RMB3.60 billion (RMB4.25 billion).

During H1 FY20, revenue of Anta brand slipped 10.7 per cent to RMB6.77 billion (RMB7.59 billion). However, Fila brand revenue rose 9.4 per cent to RMB7.15 billion (RMB6.53 billion).

The total number of Anta stores (including Anta Kids) in Mainland China and foreign countries stood at 10,197 (FY19: 10,516). The total number of Fila stores (including Fila Kids and Fila Fusion) in Mainland China, Hong Kong, Macao and Singapore reached 1,930 (FY19: 1,951). The total number of Descente stores in Mainland China reached 145 (FY19: 136).

Fibre2Fashion News Desk (JL)