Anta, Boosted by Fila Surge, Sees Net Gain Despite Amer Loss
The Chinese sneaker giant’s net income rose 30% to RMB 5,344.1 million ($753.2 mm) from RMB 4,102.9 million on a 48% jump in sales to RMB 33,927.8 million ($4,782.1 mm) from RMB 24,100.0 million for the FY ended Dec. 31. Despite incurring a RMB 633.1 million loss as its share of the RMB 1,204.5 million loss from the inclusion of Amer’s results, that was more than offset by a 75% gain in gross profit from the Fila joint venture of RMB 10,402.5 million. For the year, Anta’s apparel segment accounted for 63% of the total at RMB 21,397.7 million, up ... Log in to view full article.
