Yuyuan Group's Net Profit In The First Half Fiscal Year Was US $209 Million 300 Thousand.

Yue Yuen Industrial (Holdings) Ltd. (0551.HK), which was announced later on Sunday, announced that the net profit in the first half of fiscal year increased by 23% over the same period last year, boosted by sales growth.

Yuyuan group announced that its net profit increased to US $209 million 300 thousand in the 6 months ended March 31st, up from US $169 million 600 thousand in the same period last year.

The company's revenue in the first half of fiscal year reached 2 billion 320 million US dollars, up 22% from 1 billion 900 million US dollars in the same period last year.

The company proposed a dividend payment of HK $0.34 per share in the first half of fiscal year, a dividend of HK $0.31 per share during the same period last year.

Yuyuan group is a subsidiary of Pou Chen Corp. (9904.TW), Taiwan.

The company produces brand sports shoes, casual shoes and footwear accessories. Its customers include Nike Inc. (NKE) and Adidas (Adidas-Salomon AG).

The company also has retail outlets in major cities such as Beijing, Shanghai, Guangzhou and Chengdu.

Earlier this month, the company also stripped its subsidiary Pou Sheng International Holdings Ltd. (3813.HK) to Hongkong for listing, raising a total of $322 million.

Yuyuan group is the largest sports shoe manufacturer in the world in terms of output. It is also a constituent stock of Hang Seng Index.