KUALA LUMPUR (Nov 22): China-based footwear manufacturer Xidelang Holdings Ltd’s net profit for the third quarter ended Sept 30, 2019 (3QFY19) rose 39.3% to RMB8.33 million (RM4.94 million) from RMB5.98 million a year ago, on higher average unit selling prices.

Its earnings per share improved to 0.46 sen from 0.34 sen for 3QFY18, according to the company’s filing with Bursa Malaysia.

Revenue was flat at RMB121.39 million from RMB120.26 million.

For its nine-month period (9MFY19), its net profit climbed nearly 30% to RMB21.2 million from RMB16.35 million. While revenue inched up 2.75% to RMB347.74 million from RMB338.42 million.

On prospects, the company said the industry’s outlook for the near term is anticipated to experience some volatility due to economic uncertainties arising from the on-going trade dispute between the US and China.

However, the group is cautiously optimistic that China's sportswear industry in the mid and long term will remain resilient and achieve stable and healthy development.  

Xidelang’s shares closed unchanged at eight sen, bringing it a market capitalisation of RM144.39 million. The counter saw some 4.85 million shares done.