The footwear maker and parent of Chinese retailer, Pou Sheng, saw net income attributable to shareholders inch up 3% in the first half to $175,049,000 from $170,255,000, on 2% lower total revenues of $4,709,792,000 against $4,807,087,000. Big gains from the manufacturing business offset declines at retail, while income from associates and joint ventures contributed $30.3 million, down 13% from last year. Selling and distribution expenses declined 12%, and administrative expenses were down 3%, contributing to the bottom line.

Revenues at the manufacturing segment expanded 16% to $2,905.9 million, including a 6% increase ... Log in to view full article.