Yue Yuen profits up in Q1

Hong Kong
Published:  09 June, 2015

Yue Yuen holdings has posted improved financial first quarter results with both turnover and profit up against the same period ending March 31, 2014. Last year the company was embroiled in a trade dispute with workers which went on strike hitting the company's finiancial performance.

Yue Yuen Industrial (Holdings) Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported turnover of $1.97 billion against $1.83 billion a year ago. Profit before taxation was $111.8 million against $86.7 million a year ago. Profit for the period after tax was $90.1 million against $70.2 million a year ago. Improved retail sales has been attributed to the increase in profits. 

Yue Yuen Industrial (Holdings) Limited, an investment holding company, engages in manufacturing, marketing, and retailing of athletic footwear, athletic style leisure footwear, casual and outdoor footwear, and sandals in the People’s Republic of China, the United States, Europe, and internationally. The company operates through Manufacturing Business and Retailing Business segments. It operates as an original design manufacturer/original equipment manufacturer for various international brand names, such as Nike, Adidas, Reebok, ASICS, New Balance, Puma, Under Amour, Converse, Merrell, Salomon, and Timberland, as well as retails and distributes sportswear products.

The company is also involved in manufacture of shoe pads, shoe moulds, leather, apparel, and paper inner boxes and carton boxes; distribution of licensed products and property holdings. As of December 31, 2014, it had approximately 4,263 directly operated counters/stores in China. Yue Yuen Industrial (Holdings) Limited was founded in 1969 and is headquartered in Tsim Sha Tsui, Hong Kong.