Tuesday, July 29, 2014   

Li & Fung earnings tumble
(08-13 16:58)

Sourcing services provider Li & Fung Limited (0494) said today earnings tumbled 15 percent to US$96 million for the six months ended June. Turnover was unchanged at US$9.12 billion. The US accounts for 61 percent of its turnover, while Asia made up 14 percent, an increase of 9 percent, the group said.
Earnings per share were down 17 percent to 9 HK cents, the company said.
Li & Fung operates three key businesses in trading, logistics and distribution.
   
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