Li & Fung 1st-Half Net Profit Up 40% From Year Ago

By Chester Yung Features Dow Jones Newswires

Li & Fung Ltd. (0494.HK), one of the world's largest factory middlemen, reported a 40% rise in first-half net profit, partly on lower distribution and administrative expenses as the company controlled costs.

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Li & Fung said Thursday net profit for the six months ended June 30 rose to US$101 million from US$72.3 million a year earlier, while revenue fell to US$7.26 billion from US$7.98 billion.

The company declared an interim dividend of 11 Hong Kong cents (1.4 US cent) a share.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 24, 2017 05:53 ET (09:53 GMT)