Chinese footwear manufacturer Belle International said that its 2007 profit attributable to equity holders of the company grew by 102.7% to CNY1.9bn (US$0.27bn), in a year that saw its listing on the Hong Kong Stock Exchange.

Meanwhile, Belle posted a 87.1% revenue increase to CNY11.7bn for the full-year period.

This increase was primarily due to the increase in sales at its footwear business, Belle said. Sales from its footwear business increased by 33.0% to CNY6.2bn, while its sportswear business, which was acquired on 1 July 2006, also accounted for the increase in sales at CNY5.4bn.

Belle's shares were listed on the Hong Kong exchange on 23 May 2007. In respect of the public offer, over HK$400bn was tied up and the company earned approximately CNY364.2m interest income. However, approximately CNY54.6m listing-related expenses were charged.

Belle's footwear business mainly adopts the vertically integrated model which covers product research and development, procurement, manufacturing, distribution and
sales. Company-owned brands include Belle, Staccato, Teenmix, Tata, Fato and JipiJapa.

Meanwhile, its sportswear business mainly adopts a distribution and retail operation model, with sportswear brands distributed by the group including first-tier sportswear brands Nike and Adidas.

"Based on our understanding of the development of the consumer market for sportswear in China, we believe the consumer market for sportswear will continue to grow rapidly over the next couple of years," Bell International said.