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Youngor 08 Net Profits Down 36.5%

Tue. March 31, 2009; Posted: 08:00 AM
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SHENZHEN, Mar 31, 2009 (SinoCast Daily Business Beat via COMTEX) -- YGRUF | Quote | Chart | News | PowerRating -- Youngor Group Company Limited (SHSE: 600177) finished 2008 with CNY 10.78 billion in major business revenue, up 53.26% from a year ago. Operating profits and net profits settled at CNY 2.19 billion and CNY 1.58 billion, down 39.8% and 36.05%, respectively. Earnings per share were CNY 0.71.

The gross margin of sales in the Chinese market increased to 65.58% by the end of 2008 from 57.93% of 2007. The company was holding 13.3% and 15.4% of the shirt and suit markets in China, respectively, leaving its competitors in the dust.

As a result of the worsening global financial crisis, sales of small and midsize fashion brands had radically contracted, some of them had gone bankrupt. Youngor stepped into the breach by further extending its logistics and marketing pipelines.

Last year, the company set up 77 special stores, 111 store-in-stores, and 60 franchised stores, bringing the total number of its sales outlets to 1,808. It closed down 46 sales outlets at the same time.

Source: www.shihua.com.cn (March 31, 2009)
For full details for YGRUF click here.

    


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