Wolves owner's profits rise in first half of 2021
The Chinese group that owns Wolves saw turnover and profits rise in the first half of 2021.
Fosun's revenue grew 11 per cent on the first six months of 2020 to £7.92 billion with net profit up 102 per cent to £460 million.
The only area of decline was in Fosun Tourism's revenue.
Chairman Guo Guangchang said that after experiencing the unprecedented Covid-19 pandemic in 2020, 2021 was a new starting point for Fosun's further transformation.
Fosun will celebrate 30 years since its creation next year.
The Group's Happiness business unit, which includes Wolves, achieved revenue growth of 5.3 per cent to £3.2bn.
Fosun had reported a fall in profits and turnover for 2020 as it was hit by the coronavirus pandemic.
Total revenue was £15.1bon from £16.2bn a year earlier with net profit down from £1.69bn to £890 million for the group that includes Fosun Pharma, which was involved in developing a Covid-19 vaccine that has been used in China.
Fosun bought Wolves in 2016 for £30m. It also now owns Thomas Cook and has an interest in Canada’s Cirque du Soleil theatre group and owns French luxury holidays company Club Med.
