Home / Knowledge / News / Apparel/Garments / Net profit of sportswear brand China Dongxiang surges

Net profit of sportswear brand China Dongxiang surges

08
Apr '08
China Dongxiang (Group) Co Ltd announced its annual results for the year ended 31 December 2007. China Dongxiang recorded impressive results for the year under review, with consolidated sales almost doubled to RMB1.71 billion. Profit attributable to equity holders rose 1.4 times to RMB733.6 million, outperforming the average market estimates. Basic earnings per share increased by 1.2 times to RMB15.89 cents.

In view of the encouraging performance, the board of directors of the Company recommends distribution of a final dividend of RMB1.09 cents per ordinary share. This is equivalent to a payout ratio of 37% for the period from our listing on 10 October till the end of December 2007, which represented a 25% payout as per our dividend policy plus a 12% payout attributable to one-off interest income from over-subscription monies to the IPO share offer, which the Group would like to share with the shareholders.

Commenting on the Company's strong results, Mr. Chen Yihong, Chairman of China Dongxiang, said, "The Kappa Brand, which is owned by the Group in the PRC and Macau, is one of the top international sportswear brands in the PRC. Its products, integrating sports and fashion elements, are warmly welcomed by the PRC' s fast growing and high potential consumers. We continue to benefit from our competitive advantages in 2007.”

“Gross margin and net margin attained high levels of 58.5% and 42.9% respectively. The unit average selling prices and total sales also showed remarkable growth. Meanwhile, we actively expanded our distribution and retail network by adding 807 Kappa retail outlets to bring the total to 1,945 retail outlets, covering all major provincial capital cities and many other large urban areas and towns in the PRC."


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 14th Jul 2020

Falling textile-garment exports in Vietnam threaten jobs

Vietnam's textile and garment sector could see more job losses in the ...

Pic: GAP

Apparel/Garments | On 14th Jul 2020

Gap to compensate suppliers for cancelled orders

Gap Inc. will work collaboratively with its vendors to compensate...

Pic: New York & Company

Retail | On 14th Jul 2020

RTW Retailwinds voluntarily files Chapter 11 bankruptcy

RTW Retailwinds, an omni-channel specialty apparel retail platform...

Interviews View All

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Top executives, Textile industry

Top executives
Textile industry

RoSCTL is need of the hour

Sunil Rathore, Lacoste India

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Pietro Turrin,

Pietro Turrin

Industrie Tessili Bresciane (ITB) has served numerous industries and...

Christiane Thies,

Christiane Thies

Founded in 1892, Thies has concentrated on the fabrication of high-quality ...

Tina Antoniades,

Tina Antoniades

India-headquartered Lulu & Sky is a rapidly escalating brand with the...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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

Leave your Comments


July 2020

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


Advanced Search