Qingmei Group, one of China’s leading original design manufacturers of mid-end and high-end sports shoe soles, says net profit for the three months ended September 30, 2011 (1QFY12) climbed 12.7% to RMB80.5 million ($16.4 million) on the back of a 20.1% increase in revenue to RMB364.9 million.
Qingmei says revenue growth was due mainly to a 24.0% increase in the quantity of shoe soles delivered from 11.0 million pairs in 1QFY11 to 13.7 million pairs in 1QFY12. The group’s expanded production capacity from the first phase of its capacity expansion programme had contributed to the increase in the quantity of shoe soles delivered in 1QFY12. During the period under review, its average selling prices remained relatively stable.
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