• FY net profit up 29.3% to RMB1.7bn
  • Turnover rises 22.5% to RMB8.92bn
  • Gross profit margin up 3.4 percentage points to 45.1%

China’s Anta Sports Products has “clambered out of the industry trough”, posting robust increases for full-year turnover and profit in 2014.

The company said the “remarkable” results were due to the growing demand for differentiated value-for-money Anta products, as well as growth in other businesses, particularly children’s sportswear, its Fila business in China and e-commerce.

“Over the past few years, China’s sportswear industry as a whole has been facing challenges associated with a lack of brand identity and product differentiation, the over-expansion of stores and poor inventory management,” said Ding Shizhong, Anta chairman and CEO.

“While industry players are striving for revival, the performance of different brands has varied. Meanwhile, the group has clambered out of the industry trough. I am deeply encouraged for not only regaining growth momentum, but also recording a new high in our results for the year.”