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Anta Sports posts 11.5% profit growth for 2011

Feb. 21, 2012 (China Knowledge) - Anta Sports Products<2020>, China's leading manufacturer of athletic shoes, today said it reaped RMB 1.73 billion in net profit last year, reflecting an increase of 11.5% from a year earlier.

The growth, however, was lower than a 20.2% increase the Hong Kong-listed firm realized in 2010.

Operating revenue for 2011 surged 20.2% year on year to RMB 8.91 billion, compared with an increase of 24% in 2010. Of the total revenue last year, 48.7% or RMB 4.34 billion was contributed by shoes sales, but the proportion was 2.9 percentage points lower than 51.6% in 2010.

Gross profit totaled RMB 3.76 billion last year, up 18.7% from a year earlier. Earnings per share were RMB 0.69 and a final dividend of HK$0.26 per share was declared.

The Chinese sports product supplier opened 229 outlets last year, bringing its total store volume to 7,778. But the increase was much less than a net addition of nearly 1,000 outlets in 2010.

Anta Sports said it will team up with more strategic partners to focus on the image promotion in the London 2012 Olympic Games.

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