Jun 2, 2010
Anta Sports says fourth quarter orders up 25 percent; shares jump
Jun 2, 2010
HONG KONG June 2 (Reuters) - Chinese sports brand Anta Sports Products Ltd (2020.HK) said on Wednesday 2 June that it had recorded order book value growth of more than 25 percent for the fourth quarter of 2010.
The company's Hong Kong-listed shares spiked nearly 8 percent following the announcement before paring gains to end Wednesday 2 June's morning session up 2.1 percent.
The average selling price for footwear and apparel rose more than 5 percent from a year earlier at its trade fair held in May, on an improved product mix and better quality materials, it said without giving details.
Anta, which competes with Li Ning Co (2331.HK), China Dongxiang (3818.HK) and Xtep International (1368.HK), said it planned to roll out a series of marketing campaigns in the fourth quarter ahead of the Asian Games.
Shares of Anta have risen more than 17 percent so far this year against a 12 percent drop in the Hang Seng Index .HSI. (US$1=HK$7.8) (Reporting by Donny Kwok; Editing by Chris Lewis)
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