Skip to Content
Global News Select

Anta Sports First-Half Net Profit Soared on Sales Rebound

   By Clarence Leong 
 

Anta Sports Products Ltd.'s first-half net profit more than doubled to 3.84 billion yuan ($592.5 million), thanks to sales rebounding from last year's Covid-19 impact.

Revenue for the period was CNY22.81 billion, a 56% expansion from a year earlier, the company said Tuesday. The company's ANTA segment, which contributed close to half of its overall revenue, reported a 56% increase in revenue thanks to a growing e-commerce business and better retail performance as customer demand rose. Anta Sports' gross profit margin widened 6.4 percentage points to 63.2%.

The Chinese sportswear maker said it will focus on achieving sustainable growth rather than just targeting absolute growth rate. A key part of its strategy lies in digital transformation, which will improve its overall operation efficiency, it said.

 

Write to Clarence Leong at clarence.leong@wsj.com

 

(END) Dow Jones Newswires

August 24, 2021 00:57 ET (04:57 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.