Yue Yuen total turnover rise 12.5% for full-year

19 Jan '08

3 min read

Yue Yuen Industrial (Holdings) Limited announced its audited consolidated results for the year ended 30th September, 2007. Total turnover rose 12.5% year on year to approximately US$4,114.1 million, and net profit attributable to equity holders of the Company increased 1.6% year on year to approximately US$359.4 million. Basic earnings per share decreased by 0.9% year on year to US21.6 cents due to a share placement during the year.

The Directors have resolved to recommend the payment of a final dividend of HK$0.53 per share, which compares with HK$0.51 per share in FY2006. (Interim dividend in FY2007: HK$0.31 per share vs FY2006: HK$0.29 per share). The total dividend for the year amounts to HK$0.84 per share, an increase of 5.0% compared with HK$0.80 cents in FY2006.

The Group recorded steady growth in the footwear manufacturing operation, with turnover from athletic shoes and casual/outdoor shoes grew by 10.6% and 9.5% year-on-year respectively. There was significant growth in the total number of shoes produced, which at 232.2 million pairs represented a rise of 18.2% compared with the previous year.

The rate of growth was higher than the market average due to support of existing customers and the addition of new clients. During the year under review, the Group installed 25 new production lines, evenly spread among the three production bases (mainland China, Vietnam and Indonesia), taking the total number of lines to 398.

Steady growth in turnover was experienced in each geographical market, and distribution was more balanced among the three major markets – the US, Asia and Europe. Turnover growth was

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