Taiwanese footwear manufacturer Pou Chen Group (9904-TW) has continued to grow in its footwear business in April even though its channel business was affected by the outbreak in China, with revenue reaching NT$21.698 billion, down 1.6% month-on-month and 2.6% year-on-year. Cumulative income for the first four months of the year was NT$88.971 billion, down 4.5%.
The world’s largest manufacturer of branded athletic shoes, Yue Yuen Industrial Holdings (00551-HK), a 51.1% owned subsidiary of Pou Chen, reported April revenue of US$745 million (US$21.637 billion), down 3.6% month-on-month and 5.2% year-on-year, with footwear business growing 14.5% year-on-year. Yue Yuen’s revenue for the first four months of the year decreased 4.3% to US$3,137 million, with the footwear business increasing 12.7% year-on-year.
Pou Sheng International Ltd., the channel business of Yue Yuen also listed in Hong Kong, reported revenue of RMB1.205 billion (US$189 million) in April, down 9.7% month-on-month and 38.2% year-on-year. Cumulative revenue for the first four months was RMB6,686 million (US$1,049 million), down 27.8% year-on-year.