THAILAND: Pan Asia Footwear Profits Leap 156 Per Cent
Sports shoe giant Pan Asia Footwear Co has posted a 156 per cent rise in full-year net profits to 501 million baht ($11.5m) as its revenues were boosted by three new subsidiaries. The firm, which saw its own sales jump 23 per cent year-on-year, said the sharp rise in profits was primarily due to a 60 per cent increase in sales revenues to 2.3 billion baht ($52m).
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