Yue Yuen Industrial (HKG:0551) expects an increase of 55% to 60% in attributable profit for the year 2024 from $274.7 million a year prior, a Tuesday Hong Kong bourse filing said.

The footwear maker attributed the higher anticipated profit mainly to a substantial rise in brand customers' demand for its footwear products.

The company may potentially record an additional income tax expense, leading to a 5% to 10% adverse impact on profit for the year.

The additional income tax expense may arise due to certain tax-related disputes of two units of the company in Indonesia.