Yue Yuen Reports Strong Profit Growth Amid Mixed Revenue [Yahoo! Finance]
YUE YUEN INDL UNSP/ADR (YUEIY)
NASDAQ:AMEX Investor Relations:
yueyuen.com/index.php/en
Company Research
Source: Yahoo! Finance
Yue Yuen Industrial (Holdings) Limited is a leading global manufacturer in the footwear industry, known for its extensive production capabilities and strategic partnerships with major brand customers. The company is also involved in the retail sector through its subsidiary Pou Sheng International. Yue Yuen Industrial has reported solid financial performance for the nine months ending September 30, 2024, with a notable increase in profit attributable to owners and a slight revenue growth. The company has seen a robust demand in its manufacturing segment, driven by improved production efficiency and strong order fulfillment, although its retail operations faced challenges in mainland China. Revenue for the period increased by 1.5% to approximately $6.08 billion, while gross profit rose by 4.5% to $1.47 billion. The manufacturing segment experienced a revenue rise of 8.2%, largely due to athletic and outdoor footwear demand. In contrast, Pou Sheng's retail revenue declined by 11.6%,
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