Jan. 19, 2007 (China Knowledge) – Yue Yuen Industrial (Holdings) announced that its net profit for the fiscal 2006 has risen by 19%, thanks to an increase in sales in China and abroad despite the European import tariffs.

The Hong Kong-listed company said that net income rose by US$353.6 million in the fiscal year ending September from US$310 million a year earlier.

Sales increased 15.9% to US$3.66 billion. Out of which, sales from its wholesale and retail operations in greater China surged 80% to US$305 million, the company said. As of Sept. 30, 2006, it had 910 self-run and franchised stores in the Mainland, and aims to have 1,000 outlets by 2008. Including the Mainland, Taiwan and Hong Kong, the company now has 2,100 distribution outlets.

The global branded athletic footwear market grew 11% to US$20.4 billion, of which Yue Yuen has a 17 % share, according to the company's website.