China's Anta Sports posts record profit for 2016, e-commerce soars

Published Wed, Feb 22, 2017 · 10:46 AM

[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.

REUTERS

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China's Anta Sports posts record profit for 2016, e-commerce soars

Consumer & Healthcare

Sony deal for Paramount would draw added regulatory scrutiny

Lululemon to shutter Washington distribution center, lay off 128 employees

Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece

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Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom

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