Chinese firm Pou Sheng International's revenue at $746.4 mn in Q1 FY24

Source:China Sport ShowRelease time:20-May-2024Clicks:

Article From：fibre2fashion

China-based sportswear retailer Pou Sheng International Limited has reported unaudited revenue of Chinese Yuan (RMB) 5.40 billion (approximately $746.4 million) in the first quarter of fiscal 2024 (Q1 FY24), down 7.5 per cent from RMB 5.83 billion in Q1 FY23. Operating profit also saw a significant drop, falling 16.6 per cent to RMB 277.3 million from RMB 332.7 million in the previous year.

The company's profit for the period was RMB 181.7 million, a 20.7 per cent decrease from RMB 229.0 million in the same quarter of 2023. Similarly, profit attributable to owners of the company declined by 20.7 per cent, amounting to RMB 174.4 million compared to RMB 220 million last year.

Operating profit margin for Q1 FY24 was 5.1 per cent, reflecting a 0.6 percentage point decrease from 5.7 per cent in Q1 FY23. The net profit margin also dropped, down 0.5 percentage points to 3.4 per cent from 3.9 per cent in the previous year, the company said in a press release.