Wolves owner sees half year profits up 35.5 per cent to £290 million
Profits and sales were up for Wolves owner in the first half of this year.
Fosun International, which bought the club in 2016, saw revenue rise 17.7 per cent to £10.2 billion and profit up 35.5 per cent to £290 million.
Fosun, founded in 1992, has a presence in more than 30 countries and overseas revenue amounted to £4.7bn – a year-on-year increase of 30.7 per cent.
Chairman Guo Guangchang said, “In the face of the volatile epidemic situation and many external uncertainties in the first half of the year, Fosun maintained its strategic focus, insisted on doing the right things, the difficult things, and things that take time to develop, continue to develop in technology and innovation and globalization, demonstrated full resilience in its interim results, accumulating momentum for future development.”
Wolves falls within Fosun's Happiness segment. which saw a 12.5 per cent rise in sales to £3.97bn mainly due to the robust growth of Fosun Tourism Group.
Mr Guangchang said that over 30 years Fosun had developed into a global innovation-driven consumer group, and strives to create happier lives for families worldwide.
