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Zuoan Fashion's profit for Q1 up 40%

Jun. 5, 2012 (China Knowledge) - Zuoan Fashion Ltd<ZA>, a leading design-driven fashion casual menswear company in China, has posted RMB 67.4 million or US$10.7 million-net profit for Q1 2012, reflecting a YoY increase of 40.9% from RMB 47.8 million.

In the reporting period, the New York-listed firm's revenue grew by 32.3% YoY from RMB 211.5 million to RMB 279.9 million, driven by both distributor and direct store sales volume.

Diluted earnings per American Depositary Share reached RMB 2.42 in the Q1 2012, compared with RMB 1.95 diluted earnings per ADS in the same period of last year.

Gross profit for the first quarter of this year increased 49.1% from a year earlier to RMB 131.1 million.

As of Mar. 31, 2012, the company had RMB 936.7 million in cash, whereas it had RMB 690.5 million at the end of last year.

For Q2 2012, Zuoan Fashion expects its revenue to be in the range of RMB 290 million to RMB 300 million.

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