Yue Yuen Industrial increased sales in the first quarter ended last Dec. 31 by 28.9 percent to $1.696 billion, and the rally continued in the sebsequent two months, with a cumulated increase of 18.8 percent.
Net profit rose by 17.8 percent in the quarter to $141.7 million. Turnover from shoe manufacturing increased by 33.3 percent to $1.210 billion in the three months. Volumes were up by 27.0 percent to 82.1 million pairs and the average sales price was up by 5.0 percent to $14.7 per pair. In January, sales were in line with the first quarter, rising by 25.5 percent to $630.6 million.
Sales by product category in the first quarter showed athletic shoes up by 27.8 percent to $904.1 million, casual and outdoor shoes up by 53.5 percent to $278.0 million, sports sandals up by 49.1 percent to $25.5 million, soles and components up by 27.8 percent t o$ 144.3 million, while retail sales of shoes and apparel in China increased by 16.0 percent to $344.5million.
Turnover rose in all regions, with the U.S. up by 24.4 percent to $490.8 million, Europe by 39.2 percent to $384.6 million, Asia by 25.2 percent to $672.4 million, South America by 71.8 percent to $73.0 million, Canada by 28.0 percent to $31.1 million and the rest of the world by 8.8 percent at $44.5 million.
Yue Yuen continued to expand its production facilities in China, Indonesia, Vietnam, Bangladesh and Cambodia.
