CHINA: China Shoe Holdings reports revenues leap
China Shoe Holdings has reported a huge leap in revenues and income for the three months ended 30 September.
The Shanghai-based shoe group said revenue for the three months was US$2.3m, an increase of 91.7% on the same period last year. The company also reported net income of $264,000 for the period, an increase of 700%.
Revenue for the nine months was $5.4m, an increase of 74.2% on the same period in 2006. The company also reported net income of $649,000 for the nine months, an increase of 500.9%.
Gu Xianzhong, the president and CEO of the company said: "We are pleased to announce the 3Q results that reflect our continuing growth. We are also confident that China Shoe is on its way to enter into the PRC retail market as soon as the necessary capital is raised."
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