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Chinese sportswear company Anta Sports surged nearly 10% to close at HK$85.2 in Hong Kong after reporting 32% jump in first-half net profit.
Anta Sports said its first-half net profit jumped 32% from a year earlier to 4.75 billion yuan and increased its interim dividend by 32% to 82 HK cents. Revenue increased by 14.2% to 29.64 billion yuan, in which the Anta segment rose by 6.1% to 14.17 billion yuan and the Fila segment by 13.5% to 12.23 billion yuan.
Operating profit margin increased by 3.4 percentage points to 25.7% with its Fila segment rose by 7.2 percentage points to 29.7%. However, Anta’s segment’s operating profit margin dropped by 1 percentage point to 21% due to decreased government grants and increased cost brought by store level lease and staff after the adoption of the direct-to-consumer or DTC model in mainland China.
As of June 30, the number of Anta stores in the mainland and overseas was approximately 6,941, increasing by 17 stores, and that of Fila stores in China, Hong Kong, Macau and Singapore was about 1,942, decreasing by 42 stores respectively.
