HONG KONG (Dow Jones)--Yue Yuen Industrial (Holdings) Ltd. (0551.HK), the world's largest athletic footwear maker by output, said Sunday its first-half net profit rose 4.0% from a year earlier on increased sales despite a difficult business environment.
The company said its net profit for the six months ended March 31 rose to US$217.7 million from US$209.3 million a year earlier.
Yue Yuen, a unit of Taiwan's Pou Chen Corp. (9904.TW), said revenue for the period rose 9.7% to US$2.55 billion from US$2.32 billion.
The company proposed a first-half dividend of HK$0.34, unchanged from a year earlier.
Yue Yuen, which makes shoes for brands such as Nike Inc. and Adidas-Salomon AG, produced 129.9 million pairs of shoes in its first half, up 1.6% from a year earlier.
The shoe maker said revenue in the April-May period dropped 1.6% from a year earlier, but it expects footwear sales to stabilize on the performance of its brand-name customers, and sales for its retail operations in China to be steady on healthy consumer spending in the country.
from the wall street journal
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