HONG KONG: Chinese sportswear major Anta Sports Products announced Tuesday said it saw a 29.4% year-on-year growth in net profit for the year ended December 31, 2017 to 3.09 billion yuan ($488.16 million), booking a record annual profit for a third straight year.
Revenue rose 25.1% to 16.69 billion yuan ($2.637 billion) on rising demand from the mainland for sportswear, while its gross profit margin increased 1 percentage point to 49.4% , Hong Kong newspaper The Standard reports.
China’s biggest sportswear retailer said it is seeking to shine in the global market.
“We are not satisfied with only being a leading multi-brand company in China,” said chairman and chief executive Ding Shizhong, “We will tap into the global market with our best brands.”
He added that the company, which owns Italian label Fila, will continue to seek high-end international sports brands with potential but will only consider acquisitions of related business in the future.
James Zheng Jie, executive director and brand president, said online sales account for 20% of total revenue now and he expects it to increase to 25-30% in the next five years.
The number of its branches is expected to reach 11,000 by the end of this year.
