Taichung – Taiwanese footwear maker Pou Chen Corporation posted TWD136bn ($4.9bn) sales for H1 2021, up 11% from a year ago. The company claims a 20% share of the global athletic and casual footwear market.
Net profit during the period arrived at TWD13.5bn, in contrast to TWD1.4bn net loss in H1 2020, according to the company’s financial report published in August. This compares with TWD10.4bn net profit over TWD158m sales in pre-Covid H1 2019.
The group includes a Hong Kong listed subsidiary, Yue Yuen Industrial. This subsidiary has expanded production to mainland China, Indonesia, Vietnam, the US and Mexico. It supplies to an array of international brands such as Nike, Adidas, New Balance and Timberland.
Pou Chen reported TWD250bn ($9bn) sales in 2020, down 20% from 2019. Net profit shrunk by 78%, to TWD4bn. It spent TWD5.6bn on R&D last year, in areas including automation and flexible production.
The company shut several factories in mainland China during the year, but even so sites in the country contributed to 11% of its production in 2020. Vietnam and Indonesia accounted for 46% and 39% respectively.
‘The recovery of global economy and the return of major sports events will put a positive perspective on the sports industry,’ the company said.
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