|By PR Newswire||
|September 13, 2012 03:00 AM EDT||
FUZHOU, China, Sept. 13, 2012 /PRNewswire/ -- AIM-quoted Naibu Global International Company (LSE: NBU.L) ("Naibu" or the "Company"), China's 10th largest sportswear and sport accessory brand, has announced a 19.3% increase in pre-tax profits to RMB 185.0 million (approx. GBP 18.5 million) for the six months ended 2012. Sales rose 16.6% to RMB 789.0 million on geographic expansion and wider product range.
Naibu is pleased to announce the financial results for the first six months of 2012. As China's 10th largest sportswear brand, the Group's admission to trading on AIM has further enhanced brand awareness, while strengthening the Group's position within China's sports consumer goods market. The Group's primary target market is second and third tier cities in China where, through urbanisation, the disposable income of young consumers is on the increase. The Group's strategy is to use the growing awareness of the Naibu brand to further expand market share in its target market.
During the period, the Group offered over 400 Naibu-branded products, ranging from tennis shoes and sports socks to rucksacks, basketballs and tennis rackets. Also, the number of Naibu stores increased to 2,939 with 69 new stores opened by distributors and sub-distributors during the period. Through investment in television and other media advertising, Naibu branded products have gained popularity and captured market share, which in turn has enhanced the enthusiasm of distributors to expand their scale of operations.
The Group's half-year sales achieved a year-on-year increase of 16.6% to reach a record RMB 789.0 million (approximately GBP 79.0 million). The increase was achieved by both an increase in volume and increase in average selling price. Shoes continued to account for the majority of the Group's sales, with its first half-year sales of RMB 410.0m, accounting for 51.9% of the Group's total sales. The sales growth of clothing and accessories was also significant which in the first half of this year was RMB379.1m, accounting for 48.1% of the Group's total sales.
The Group is currently on track with its plans to build an additional shoe production facility in Western or Central China, as foreshadowed in the Group's Annual Report for the year ended 31 December 2011 and the Group expects to make a final decision during the current year.
For the interim results announcement please refer to www.naibu.com.
For further information please contact:
Chief Financial Officer
Tel: +86 591 8820 5517 / +86 150 5948 7576 / +65 91060910
Ticker symbol: NBU.L