Anta profit up on sporting boom

Chinese sportswear retailer reports a 25% increase in full-year revenue

Anta Sports Products Ltd, the mainland's largest sportswear retailer by market value, posted record annual profits for a third year in a row as its multi-brand strategy paid off and the company gained from the rising demand for sportswear and sporting goods in the country.

The company said revenue for the period ending Dec 31, 2017, surged 25 percent to 16.69 billion yuan ($2.65 billion), while its gross profit margin rose 1 percentage point to 49.4 percent.