Citizen reports record high net profit in seven years, with a YoY increase of 14.6% to JPY 19.697 billion.
The group is planning new acquisitions in the manufacturing and retail sectors to maintain the business performance and strengthen its internationalization.
The group said, the goal is to reach nearly 50 million euros by 2025 and at least more than 2600-27 million euros by 2023.
In 2022, Lao Feng Xiang achieved a whopping revenue of 63.01 billion yuan, marking a remarkable 7.36% increase year-on-year.
Huali Industrial Group sold a total of 221 million pairs of sneakers, an increase of 4.65% year-on-year; operating revenue was RMB 20.57 billion.
On the following analyst’s call, , Chief Executive Officer and General Manager Marco Gobbetti said sales in mainland China at the start of the year were also encouraging.
Sales hit a record at €332m in Q4, up +4% on an organic basis vs. 2021, despite a high comparison basis.
The repurchased shares will be canceled.
Originally founded in 1906, New Balance has been making running shoes since 1938. In 2000, New Balance reached the $1 billion revenue milestone. It has managed to double its sales in the last 10 years.
In 2022, PUMA significantly improved product offering across all business units and expanded their product offering in Running & Training.
