Li & Fung turnover drops 9.6 percent in the first half

Li & Fung Limited announcing its interim results for the six months ended June 30, 2018 said that in the period under review, the company was affected by a challenging macroeconomic and retail environment which saw continued destocking, store closures and bankruptcies. Core operating profit of its continuing operations for the first half of the year decreased 18 percent to 124 million dollars, due to the decrease in turnover and total margin in the Supply Chain Solutions business. The company’s turnover decreased 9.6 percent to 5,850 million dollars and total margin as a percentage of turnover was 10.5 percent.