Anta Sports Products Ltd. said it expects sales to expand not less than 55 percent in the six months ended June 30.
In the year-ago period, sales were ¥3.60 billion.
On a consolidated basis, before taking into account the share of loss of a joint venture, profit attributable to equity shareholders is expected to record an increase of not less than 65 percent from ¥2.38 billion a year ago.
On a consolidated basis, after taking into account the share of loss of a joint venture, profit attributable to equity shareholders is expected to record an increase of not less than 110 percent against ¥1.66 billion in the same period a year ago.
Anta said the expected growth in overall revenue reflected the impact of the pandemic to the retail market in Mainland China was largely reduced. Revenue of Anta brand, Fila brand and other brands recorded a strong rebound as compared to 2020 levels.
The expected increase in profit from operations as compared to 2020 is mainly attributable to, including, but not limited to, the following:
- Retail business of all of the Group’s brands have been offering less retail discount as compared to 2020 levels, which is expected to further increase the overall gross profit margin of the Group;
- Retail business of the Fila brand, and other brands, are expanding relatively faster, resulting in better operating efficiency; and
- Expected decrease in the share of loss of a joint venture as compared to the year-ago period.
Photo courtesy Anta Sports