Yue Yuen reported sales rose 5.8 percent in the nine months to $6.28 billion from $5.94 billion a year ago.
Excluding non-recurring items, operating profit attributable to owners of the company for the current period amounted to about US$293.4 million, a decrease of 8.1 percent.
The latest period included US$14.3 million of impairment losses and a gain of $3.4 million due to fair value changes on derivative financial instruments and on consideration payable for acquisition of business. The year-ago nine months included a non-recurring operating loss of $110.4 million, of which $90.0 million represented a provision for the increased contributions to social insurance benefit and housing provident fund for employees in the PRC and $18.8 million was due to fair value changes on derivative financial instruments.
Net profit attributable to owners of the company increased 36.6 percent to $285.6 million compared to the same period last year.
Total sales of shoes manufactured in the period increased by 1.0 percent whereas the volume of shoes sold increased by 1.1 percent to 231.4 million pairs as compared with the same period last year.
