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Meck International Released Mid Term Sales Growth In 2010

2010/9/2 9:46:00 40

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Recently,

Meck

International Holdings Limited ("Meck") released its interim results in 2010.

According to the China Daily, sales in the first half of 2010 increased by 45%, up to 310 million yuan (RMB, the same below), and the profit was about 49 million 520 thousand yuan.

China reported that the first half of the year

Meck shoes

The sales revenue increased by 76.6% to 158 million yuan. The increase in sales volume was mainly due to the successful implementation of the exclusive distribution business mode and the rapid expansion of the retail network.

The sales revenue of clothing products increased by 13% to 78 million 928 thousand yuan, mainly due to the improvement of product design, quality and product variety.

Export sales revenue increased by 10.8% to 50 million 845 thousand yuan, mainly due to the recovery of overseas market economy.

In the first half of the year,

Meck

The gross profit margin was further improved, rising by 1.9 percentage points to 34.1%, but the net profit was increased by 5.5 percentage points to 17.7% over the previous year because of the preferential tax policy of "exemption from two reduction of three", resulting in a net profit margin of 1.1 percentage points down to 16.1% over the same period.

The basic profit per share increased by 18.7% to 0.05 yuan over the same period last year.

The Meck board recommended an interim dividend of HK $0.02 per share, equivalent to 40% dividend payout rate.

China reported that its medium-term performance was in line with expectations, and annual performance is expected to exceed expectations.

According to the China Daily, as of June 30th this year, Meck has 24 distributors, 1621 retail outlets (including 586 distribution stores and 1035 franchisees), and is distributed in over 521 districts, counties and county-level cities in 23 provinces, autonomous regions and municipalities directly under the central government.

The number of stores increased by 303 over the end of 2009, representing an increase of 23% over the same period last year.

Meck expects to have more than 1800 stores by the end of 2010.