Li & Fung H1 revenues stay stable

13 Aug '13

4 min read

Mr. Rockowitz noted, “The global economic environment in 2013 has remained uncertain, especially in Europe, which has resulted in continued weakness in consumer spending and sentiment. However, despite the prevailing macroeconomic conditions, our core sourcing business remains solid and continues to gain market share.”

He added, “It should also be noted that the tragedies in Bangladesh over the past year have placed worker safety and sustainability at the heart of standards required by global retailers and brands. These attributes and adherence to the highest supply chain standards have always been in our DNA, and they have proven to be some of our core strengths that differentiate us in the global supply chain arena.”

Dr. William K Fung, Group Chairman of Li & Fung Limited, said, “Ever since Li & Fung established three interconnected Business Networks of Trading, Logistics, and Distribution, the synergy of cross-selling has been kicking in, as shown by the strong organic growth in our Asian-focused logistics business.”

He continued, “While the proportion of our Distribution business continues to increase, and as retailers are now placing orders with shorter lead times and pushing deliveries closer to their seasons, our core operating profit will increasingly be skewed towards the second half of the year. We expect that this trend will continue.”

“We will continue refining our business model of three interconnected Business Networks before unveiling the Group’s 2014 - 2016 Three-Year Plan next year to further leverage our unparalleled expertise in supply chain management for future growth,” Dr. Fung said.

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