• Q3 profit up 32.3% to $5.1m
  • Sales increase 31.2% to $139.9m 
  • Gross margin of 24.2% versus 23.8%

Apparel retailer Ever-Glory International Group has booked a 32.2% hike in third-quarter profit, thanks to improved sales and margins.

The Chinese company said net income reached US$5.1m for the three months to 30 September, compared to $3.9m in the same period of the year before.

Total sales grew 31.2% to $139.9m from $106.7m a year ago, driven by a respective 41% and 24.7% increase in retail and wholesale sales. Gross margin improved to reach 24.2%, compared to 23.8% last year.

The company expects full-year net income to reach $11-17m, while sales are forecast to range from $420m to $470m. Fourth-quarter net income is expected to be between $1.5m and $2.5m, with sales of $90-140.