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China's Anta Sports posts record profit for 2016, e-commerce soars
[HONG KONG] China's Anta Sports Products Ltd posted on Wednesday a 17 per cent rise in 2016 net profit thanks to solid growth in its children's product line and a strong e-commerce business, as the country's sports sector continued to recover.
Anta, China's biggest sportswear retailer by market value, posted a record 2.385 billion yuan (S$492.768 million) net profit for the year ended in December 2016, up from 2.04 billion yuan a year earlier.
That was in line with the 2.4 billion yuan average of 33 analyst estimates compiled by Thomson Reuters.