Home / Knowledge / News / Apparel/Garments / Ming Le Sports first nine months revenue up 25.5%
Ming Le Sports first nine months revenue up 25.5%
Nov '13
In the first nine months 2013 Ming Le Sports AG, a rapidly growing branded sportswear company in China, was able to increase its revenues by more than 25 per cent. At the same time profit margins were affected by higher costs of sales resulting from the increased outsourcing of manufacturing to other vendors due to capacity constraints.
Ming Le's revenues showed a strong year-on-year growth of 25.5 per cent to 256.6 million Euros (9M 2012: 204.5 million Euros). Measured in RMB, revenues increased by 26.3 per cent. This positive development resulted primarily from higher sales volumes generated from the increased number of authorised retail outlets and increases in the average unit prices.
In the first nine months of 2013 Ming Le sold 25.1 million units of footwear and apparels, an increase of 22.2 per cent compared to the previous year. The average unit selling price grew by 3.3 per cent to 11.64 Euros (9M 2012: 11.27 Euros) for footwear products and by 5.0 per cent to 9.70 Euros for apparel products (9M 2012: 9.20 Euros).
Gross profit remained almost unchanged amounting to 69.8 million Euros (9M 2012: 70.0 million Euros), representing a slight decrease of 0.3 per cent. Gross profit margin declined from 34.2 per cent in the first nine months 2012 to 27.2 per cent in the same period 2013. This slowdown is mainly attributed to higher costs of sales incurred due to the increased outsourcing of manufacturing to other vendors.
As a result, profits of operations (EBIT) also went down by 11.1 per cent to 44.0 million Euros (9M 2012: 49.2 million Euros). EBIT margin fell from 24.1 per cent in 2012 to 17.1 per cent in the first 9 months 2013.
Accordingly net profit declined by 23.8 per cent from 43.1 million Euros to 32.9 million Euros in the considered period. This represents a net profit margin of 12.8 per cent (9M 2012: 21.1 per cent).
Strong financial position
Nevertheless, Ming Le Sports remains financially well-positioned: The company's equity increased by 21.1 per cent from 155.2 million Euros as of December 31, 2012 to 188.0 million Euros as of September 30, 2013. Equity ratio went up to 82.1 per cent (December 31, 2012: 81.9 per cent).

Ming Le Sports

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Mohammad Hassan
Biax Fiberfilm

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search