Yue Yuen announces Q1 figures
29/03/2010
Yue Yuen Industrial, the Hong Kong-based holding company that belongs to footwear manufacturer Pou Chen, has announced its unaudited results for the first quarter of its financial year for 2010, which ended on December 31.
Turnover declined year-on-year by 3.2% compared to the same period last year to $1.3 billion, but profits increased by 10% to reach $120.2 million.
Footwear production volume fell in the quarter by 5.5% to 64.6 million pairs. However the company said its wholesale and retail operations continued to benefit from the stronger economies in China, Hong Kong and Taiwan so that athletic footwear and apparel turnover increased year-on-year by 29.2% to $296.9 million.
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