On the evening of August 20th, according to the financial report for the second quarter of 2024 disclosed by Amafen Sports, the company's revenue increased by 16% year-on-year, reaching $994 million, exceeding the expected revenue growth rate in the first quarter financial report; The gross profit margin increased by 220 basis points year-on-year to 55.5%; Adjusted operating profit increased by 40% year-on-year, reaching 29 million US dollars; Compared to the same period last year, inventory increased by 2%, which is below the 16% revenue growth and is at a healthy level.
Among them, the Archaeopteryx brand continues to maintain excellent growth and profitability, with its outdoor functional apparel segment experiencing a year-on-year revenue growth of 34% in the second quarter, reaching $407 million, and a year-on-year growth of 38% on a fixed exchange rate basis; Omnichannel revenue, including self owned retail stores and e-commerce websites, increased by 26% year-on-year.
We are very satisfied with the financial and operational performance of Amalfin Sports in the second quarter of 2024, "said Zheng Jie, Global CEO of Amalfin Sports." Our unique portfolio of high-end functional apparel brands is continuing to gain market share in the global sports and outdoor markets. Under the leadership of our flagship brand, Archaeopteryx, Amalfin Sports has significantly exceeded expectations in all key financial indicators, laying the foundation for strong performance throughout 2024
Amazon Sports' Chief Financial Officer Andrew Page said, "Our company has achieved high double-digit organic growth in revenue, with significant improvements in gross profit margin and operating profit margin, thanks to our strong brand portfolio, steadfast management execution, and strict management of costs and working capital. These achievements give us confidence in improving our annual sales and profit targets