Chinese footwear manufacturer Yue Yuen has bolstered its profit for the first three quarters of the year by 55.6%, with Asian revenue growth leading the way.

The company said that for the nine months to 30 June, its total turnover rose by 20.6% year-on-year to US$3.64bn, with profit rising to $438m.

Excluding fair value changes and the gain on disposal, the company's recurring profit attributable to equity holders increased by 13.3% to $311.6m.

Total footwear production volume for the period rose 12.2% to 195.6m pairs.

Asia was the biggest revenue driver for Yue Yuen, and within this, Greater China.

By category, revenue from athletic shoes led the way, growing 19.7% to $2.1bn, while the company's retail operations accounted for 11.1% of the total.

By region, the US comprised the greatest proportion of Yue Yuen's business, with export revenues up 5.7% to $1.12bn.

For July and August 2008, Yue Yuen's sales rose 21.3% to $866.5m, which the company said is on the back of robust growth opportunities in the Chinese wholesale and retail operations.

Tsai Chi Neng, chairman of the group, said: "We have spun off our subsidiary containing the high growth retail operations under Pou Sheng. Yue Yuen's core business will still be footwear manufacturing.

"Our attention will be devoted to enhancing our production management control system and improving our level of efficiency in our operations."