Anta Sports Products Ltd. issued preliminary results for the first half ending June 30 showing that profits from operations are expected to increase not less than 50 percent. Profit attributable to equity shareholders is expected to expand not less than 25 percent.
The expected increase in the profit attributable to equity shareholders of the company is mainly attributable to, including but not limited to, the following reasons:
- The continued strong growth recorded in the sales of Anta branded and other branded products which has resulted in more than 35 percent increase in revenue (on a consolidated basis) as compared to the 1H2018;
- The increase in operating profit margin as compared to the 1H2018, which was mainly due to: (a) the increased contribution from retail operations which generally generate a relatively higher gross profit margin than wholesale operations; (b) the early receipt of the government grants by the Group; and (c) the relatively stable operating expenses ratio as a percentage of revenue.
Anta said it is still in the process of finalizing its interim results for the half. Detailed results are expected to be published on August 26.
On April 2, An investor consortium comprised of Anamered Investments Inc., Anta Sports Limited, FountainVest Partners and Tencent Holdings Limited completed its acquisition of substantially all of the outstanding securities of Amer Sports Corporation for approximately €5 billion ($7.53 billion) in a tender offer on the Nasdaq Helsinki stock exchange. Amer Sports ‘s brands include Salomon, Arc’teryx, Peak Performance, Atomic, Mavic, Suunto, Wilson and Precor.