Yue Yuen Industrial (Holdings) Ltd. boosted nine-month profit 56%, helped by the sale of a stake in a retail unit and increased demand ahead of the Beijing Olympics. Net income climbed to $438.1 million in the nine months ended June 30 from $281.5 million a year earlier, the company said in a statement to the Hong Kong stock exchange. Sales rose 21% to $3.64 billion.
Yue Yuen boosted sales as the Olympics spurred interest in sport in China, the world’s most populous nation, and in other Asian nations. The company, which makes shoes for Nike Inc., also made a one-time gain of $122.5 million from the sale of interests in a subsidiary.