Li & Fung H1 Net Profit Surges 33%

Li & Fung Ltd

reported a 33% rise in its first-half net profit. Li & Fung's net profit for the period surged to US$312 million, versus US$236 million, in the year-ago period. Its core operating profit dropped 22% to US$221 million. Li & Fung's revenue climbed 4% to US$9.13 billion from US$8.80 billion. The company also declared a dividend of HK$0.15 per share in the first half, versus HK$0.19 per share. Li & Fung shares closed at $3.76 yesterday.