Yue Yuen, which is the world's largest manufacturer of athletic shoes and one of its largest manufacturers of outdoor footwear and sandals, reported sales growth accelerated 7.3 percent to $1.97 billion in the first quarter compared to the same period last year. Net profits rose 28.4 percent.
The Hong Kong listed company, which reports its results in U.S. dollars, also reported:
- Gross profit increased 4.6 percent to $438.3 million compared to $419.2 million in the same period last year
- Recurring operating profit attributable to shareholders decreased by 9.2 percent to $85.9 million compared to the same period last year
- Non-recurring operating profit for the period amounted to $4.2 million
- Total net profit attributable to shareholders reached $90.1 million in 2015, up 28.4 percent compared to $70.2 million in the same period last year