Sunday, August 26, 2012
Profit slips at global supply chain manager Li & Fung
Supply chain manager Li & Fung Ltd, whose global distribution and trading centres make it a useful barometer of consumer sentiment, said half-year core operating profit fell by more than a fifth due to a slower-than-expected turnaround of its U.S operations and weak demand in Europe. LiFung Tower, Hong Kong HeadquartersThe Hong Kong-based group, which manages supply chains for major retailers such as Wal-Mart Stores Inc and Target Corp, said, however, that net profit rose by a third as it
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