Li & Fung Posts Upbeat 2011 Net Profit

Li & Fung Ltd LFUGY posted a 24% increase in its net profit for 2011. Li & Fung's 2011 profit rose to $681 million, versus a restated net profit of $548 million in 2010. However, analysts were expecting a profit of $617 million. Li & Fung shares closed at $4.88 yesterday.