Operating profit at Pou Sheng, the retail subsidiary of Yue Yuen, increased by 51 percent to 515.7 million renminbi (€66.3m) for the nine months ended Sept. 30. Profit attributable to owners of the company rose by 224 percent to RMB 311.4 million (€39.9m) as retail foot traffic improved and the overall sales environment improved across China.
Pou Sheng’s nine-month revenues improved by 7.3 percent to RMB 15.4 billion (€1.98bn), but gross margin over the period slipped by 290 basis points to 33.1 percent from 36.0 percent.
