Li Ning hopes for profit growth on cost cuts
02/04/2012
Chinese sportswear brand Li Ning expects its gross profit margin to improve by 0.5-1.0 percentage point in 2012 on cost savings, chief financial officer Chong Yik Kay said on 30 March, 2012.
The company also expected a low single-digit increase in same store sales in 2012, the CFO told reporters at a results briefing.
On 29 March, Li Ning reported a 65% decline in 2011 net profit to $61.3 million.
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