Li & Fung 2013 profit up 17 pct at $725 mln
HONG KONG, March 20
HONG KONG, March 20 (Reuters) - Global exporter Li & Fung Ltd reported a 17 percent rise in full-year net profit, boosted by a strengthened foothold in Asia as the company moves to capture increasing consumer spending in the region.
The consumer goods exporter, which supplies retailers such as Kohl's Corp and Wal-Mart Stores Inc with clothing, toys and other products, posted a net profit of $725 million for 2013, beating forecasts of $577.1 million, according to Thomson Reuters' Starmine SmartEstimate.
That compared to a net profit of $617 million in 2012.
(Reporting by Donny Kwok; Editing by Michael Urquhart)
- Police seek motive in fatal Washington state school shooting
- Two deputies killed, two others hurt in California shooting spree
- Wall St. finally turning on Amazon as Bezos magic fades
- Iran hangs woman convicted of killing alleged rapist
- Medical worker quarantined in New Jersey under new Ebola safeguards |