March 20, 2014 / 9:05 AM / 4 years ago

Li & Fung 2013 profit up 17 pct at $725 mln

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

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