Li Ning announces return to profitability in 2015
Li Ning's top management could not wait to announce the good news to its shareholders. The Chinese group, a major player in sports in the world's most populous country, issued on 6th January a statement concerning its 2015 annual results.
Though its financial accounts have not yet been audited, the board of directors explained that it expects to reach the profitability threshold for its 2015 fiscal year, closed on 31st December.
In the previous fiscal year, Li Ning recorded a loss of CNY781.481 million for a revenue of CNY6.728 billion (a €104 million loss on a revenue of €955 million). The group had not been in the black since the 2011 fiscal year, it will issue a detailed financial statement in March.
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