China's ANTA Sports 2014 profit surges 29 pct in retail rebound, shares jump

China Dongxiang (Group) Co

11/02/2015 05:44

HONG KONG, Feb 11 (Reuters) - China's ANTA Sports Products 
Ltd  2020.HK  said on Wednesday its 2014 net profit jumped 
nearly a third on growth in children's lines and e-commerce, as 
Chinese sports brands begin to bounce back from  years of 
industry-wide restructuring and decline. 
    ANTA Sports, China's biggest sportswear retailer by market 
value saw its earnings rise 29 percent to 1.70 billion yuan 
($272 million) for the 12 months ended December, up from 1.31 
billion yuan in 2013. That was above a mean forecast of 1.64 
billion yuan from 23 analysts' estimates. 
    The firm's stock surged more than 7 percent on Wednesday 
after the results were announced, heading for its best day in 13 
months, while the benchmark Hang Seng Index  .HSI  slipped 0.7 
percent.  
 
($1 = 6.2424 Chinese yuan renminbi) 
 
 (Reporting by Donny Kwok; Editing by Kenneth Maxwell) 
 ((donny.kwok@thomsonreuters.com; +852 2843 6470; Reuters 
Messaging: donny.kwok.reuters.com@reuters.net)) 
 
Keywords: ANTA RESULTS/