Yue Yuen Industrial increased sales by 24.4 percent to $3.302 billion in the first half ending March 31, while net profit increased by 9.2 percent to $230.1 million.
Turnover from shoe manufacturing increased by 27.1 percent to $2.340 billion, underpinned by higher manufacturing volumes, up by 19.7 percent to 162.8 million pairs, and an increase in the average selling price, up by 6.2 percent to $14.35 per pair.
Sales by product category showed that athletic shoes rose by 23.1 percent to $1.754 billion, casual and outdoor shoes were up by 43.0 percent to $530.3 million, sports sandals increased by 21.4 percent to $52.8 million, soles and components edged up by 22.4 percent to $269.9 million, while retail sales of shoes and apparel in China increased by 16.8 percent to $695.1 million.
The group had 6,047 points of sale in Greater China at the end of March, of which 2,765 were directly operated.
Turnover rose in all regions, with U.S. up by 19.0 percent to $944.5 million, Europe up by 29.8 percent to $718.3 million, Asia by 22.9 percent to $1.368 billion, South America by 72.0 percent to $143.3 million, Canada by 28.8 percent to $52.8 million and the rest of the world by 7.2 percent to $74.7 million.
In April, Yue Yuen boosted year-on-year sales by a further 26.0 percent to some $613.0 million, generating a growth of more than 24.0 percent in seven-month sales to around $3.9 billion. The company added that its main customers have enjoyed sales growth and that they expect the trend to continue for the whole of 2011. Increasing wages in China will help consumer spending and should support the purchase of athletic and casual shoes produced for the group's brand name clients.
In the first half, Yue Yuen bolstered the number of manufacturing lines by 10.0 percent to 506, but the ramp-up will be gradual as production is fine tuned and staff trained.