Home / Knowledge / News / Apparel/Garments / ANTA sportswear's net profit dips 18.7% in H1 2013
ANTA sportswear's net profit dips 18.7% in H1 2013
09
Aug '13
China’s leading sportswear brand ANTA has announced its 2013 first half results which showed a decline of 18.7 percent in the company’s net profit.
 
The first six months that ended on June 30, 2013 reported a net profit of 625.7 million yuan (approx US$ 102.16 million) which is lower compared to the 769.6 million yuan (US$ 125.8 million) of the same period in the previous year.
 
ANTA’s turnover decreased by 14.4 percent to 3.37 billion yuan in the first half compared to the 3.93 billion yuan during the same period of 2012, as the Group adopted a prudent control over orders placed by retailers due to the impact from keen competition and destocking activities in the market. 
 
Mr. Ding Shizhong, Chairman and CEO of ANTA Sports, said, China's sportswear industry still faces uncertainty associated with the unresolved excess inventory problem in the near-term. However, its mid-to long- term outlook will be promising as the Chinese Government is generally believed to put more efforts in expanding domestic demand, boosting urbanization and increasing participation in sports.
 
The company has seen sequential improvements in its operational performance and in the confidence of its retailers, he said, and added that strong execution and proper management of the distribution network would enable ANTA to bottom out at a faster pace than its peers.
 
ANTA Sports has successfully extended partnership with the Chinese Olympic Committee (COC) for the 2013 to 2016 Olympic cycle, making it the “Sportswear Partner of the COC” for eight consecutive years. The sportswear brand will provide winning outfits for the Chinese Sports Delegation participating in the Olympics.
 
ANTA Sports Products Limited primarily designs, develops, manufactures and markets sportswear, including, apparel and accessories.
 

Fibre2fashion News Desk - India


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search