Yue Yuen Industrial Holdings reported a 37.1 per cent rise in interim net profit to US$151.63 million to mark its debut on the Hang Seng Index (HSI).
The world's largest maker of sports shoes said yesterday the profit growth - at the high end of analyst forecasts - was due mainly to the maiden contribution of raw material assets acquired from its parent Po Chen in October.
A strong year-on-year rise in sales volume on a stable gross profit margin of about 23 per cent also helped drive earnings growth, it said.
Yue Yuen, which makes shoes for Nike, Reebok, Adidas and Birkenstock, said sales turnover in the six months to March 31 grew 36.57 per cent to US$1.24 billion year on year. Excluding its raw material business, turnover was US$1.12 billion, up 23.7 per cent.
The company declared a special dividend of 37 HK cents per share together with an interim dividend of 23 cents.
The interim results were reported on the same day the company was officially included in the HSI.