CHINA: Future Looks Up For Hong Kong's Li & Fung
Despite a slowdown in the America economy that is hitting sourcing and export trading, the company is expected to report good figures.
The results, due out on Monday, are likely to show that net profit is about HK$356.8m for the six months up to June 30, up 21 per cent on last year.
Li & Fung relies heavily on the US market, deriving about 70 per cent of its revenue from this source.
But the company has had a number of good acquisitions which have helped secure its fortunes.
The acquisition of its biggest rival, Colby Group Holdings in November as well as a deal in September to source consumer goods for Walt Disney Co, stores and theme parks helped offset slowing growth in other areas.
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