Yue Yuen Industries (00551) announced that it expects the net profit attributable to owners in 2024 to increase by 55% to 60% year-on-year.

Yue Yuen Ind(00551) announced that the group is expected to increase its attributable profit for the year 2024 by 55% to 60%, compared to the profit in 2023, to $274.7 million. According to the announcement, the increase in profit is mainly due to the normalization of the global footwear market, a significant increase in demand for the group's manufacturing business from brand customers, and a significant improvement in order fulfillment, capacity utilization, and production efficiency, leading to steady growth in the group's manufacturing business gross profit and operating profit. However, considering the situation of tax disputes, some of the favorable factors mentioned above may be partially offset, leading to a reduced growth in profit.