Strong first-half performance from Li Ning
27/08/2010
Revenue for the six-month period grew by 11.2% to $662.4 million and profit by 23.1% to $85.5 million.
On announcing the results, chairman, founder and former Olympic athlete, Li Ning, commented: “The group has strengthened its competitiveness in key areas such as brand awareness and product performance, thus achieving stable and sustainable business development.” He said the company had benefited from continued growth in China's economy during the first half of 2010, although economic uncertainties in other markets had affected it too.
Sales of Li Ning accessories have gone particularly well. In the January-June period, accessory sales increased by 22.6%, compared to 12.3% for apparel and 7.4% for footwear.
In terms of brand-building, the company said it had made strong progress over the period under review, including signing up a Spanish First Division football team to wear its apparel. The club in question, Espanyol, will be the first European team to wear Li Ning.
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