Operation Updates
Melbourne, Dec 30, 2015 AEST (ABN Newswire) - XPD Soccer Gear Group Limited (
ASX:XPD) is pleased to release the following updates.
Financial Results
Sales up to 30 November 2015 was approximately RMB436million (equivalent A$95m), approximately 18% up from corresponding period in 2014, and the Gross Profit Margin remained at approximately 33%. The continued increase in sales is largely due to the growing momentum in Chinese soccer market and increasing number of retail outlets. We now expect sales to exceed RMB480 million for the twelve months to 31 December 2015. EBIT was approximately RMB106million for the eleven months of 2015 due to continued investments in marketing and one-off IPO costs.
Operational Updates
XPD continued to expand its distribution networks in third and fourth tier cities in China. As at 30 December 2015, total XPD retail outlets in China reach 2,062, representing an increase of 52 outlets from 30 June 2015, most of which are located in Liaoning Province and Jilin Province in North-eastern China. XPD more focused on store productivity through a better merchandizing of products, more prominent displays and a constant uplifting of performance standards through training and education of XPD distributors and retailers.
XPD has recently been granted a design patent (Patent Number: ZL 2015 3 0180173.1) for soccer shoes by State Intellectual Property Office of the PRC.
XPD sponsored Queensland U19 Soccer Team for the Pacific School Games in Adelaide in November 2015.
About XPD Soccer Gear Group Ltd
XPD Soccer Gear Group Ltd (ASX:XPD) is a leading and fast-growing sportswear business in China. The Company listed on the Australian Securities Exchange on 21 May 2015.
The company is primarily engaged in the design, development, manufacturing, marketing and distribution of sportswear products under the “XPD” brand. XPD has a focused branding strategy on soccer products including soccer boots, soccer gear and accessories.
XPD has established an extensive supply chain management system through in-house and sub-contracted manufacturing operations; and an extensive distribution network throughout China.
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