Home / Knowledge / News / Fashion / Sports shoes maker Yue Yuen total turnover up by 20.6%

Sports shoes maker Yue Yuen total turnover up by 20.6%

Sep '08
Yue Yuen Industrial (Holdings) Limited announced its unaudited consolidated results for the nine months ended 30th June, 2008. Total turnover rose year on year by 20.6% to approximately US$ 3,638.6 million and profit attributable to equity holders of the Company increased year on year by 55.6% to approximately US$ 438.0 million, respectively.

Excluding the fair value changes and the gain on disposal, the recurring profit attributable to equity holders increased by 13.3% to US$ 311.6 million. The fair value changes are recognized in accordance with accounting standards arising from the mark-to-market valuations of certain derivative financial instruments.

The gain on disposal is a gain recognized in accordance with accounting standards arising from the listing of new shares by Pou Sheng International (Holdings) Limited (“ Pou Sheng”) on the Stock Exchange of Hong Kong Ltd. Total footwear production volume for the nine-month period amounted to 195.6 million pairs, an increase of 12.2% compared with the corresponding period last year.

During the period under review, the Asia region led all geographic markets with its high rate of revenue growth. Within Asia, the Greater China region was the principal revenue growth driver.

Footwear manufacturing operations have continued to benefit from the economies of scale derived from sustained annual volume growth. The consolidation in the footwear manufacturing capacity triggered by the macro environment should continue to help drive volume growth for the Company.

In July and August of 2008, the aggregate sales amounted to approximately US$ 866.5 million, which represented an increase of 21.3% year on year. This year on year revenue growth for the combined months of July and August of 2008, is underpinned by the consistent growth in the footwear manufacturing businesses as well as the robust growth opportunities in the Chinese wholesale and retail operations. Our retail network in China will concentrate on maximizing operating efficiency. Footwear manufacturing capacity will continue to expand at a measured pace.

Mr. Tsai Chi Neng, Chairman of the Group, said: “We have spun off our subsidiary containing the high growth retail operations under Pou Sheng. Yue Yuen's core business will still be footwear manufacturing. We will continue to strengthen our relationships with our international brand customers. Our attention will be devoted to enhancing our production management control system and improving our level of efficiency in our operations.”

Yue Yuen Industrial (Holdings) Limited

Interviews View All

Hannah Lane, Redress

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Nuno Venda, ROQ

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Ian Russell, Pireta

Ian Russell

UK-based Pireta has developed a unique free-form process to add durable,...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

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


Leave your Comments

October 2019

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

news category

Related Categories:

Follow us on instagram


Follow Fibre2Fashion On

Advanced Search