HONG KONG: Li & Fung H1 profit up 24%
Consumer products trading company Li & Fung has reported a 24% jump in first-half profit, thanks to good organic growth and contributions from wholesale acquisitions.
Six-month net profit was HK$764m (US$98.25m) compared with HK$618m previously. Revenue was up 19% to HK28bn, the company said.
The company has been growing its non-apparel operations as Chinese textile quotas disrupt apparel sourcing.
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