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.
(Photo: http://photos.prnewswire.com/prnh/20120913/CN72920)
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:
Kenny Law
Chief Financial Officer
Email: mailbox@naibu.cn
Tel: +86 591 8820 5517 / +86 150 5948 7576 / +65 91060910
www.naibu.com
Ticker symbol: NBU.L
