Wednesday 24th Apr 2019 - Logistics & Supply Chain

Li & Fung on the acquisition trail

Hong Kong based  logistics and trading group Li & Fung is on the global acquisition trail as it targets a core operating profit of US $1.5 billion by 2013.

In the first half of 2012 the group saw core operating profit fall by a fifth to $221m despite a four per cent increase in sales to $9bn.

Li & Fung has more than 300 offices and distribution centres in 40 countries around the world and operates through three interconnected divisions: Trading, Logistics and Distribution. It counts some of the world’s major retailers as customers.

The group made it clear that in future a higher level of cash would be retained to provide funding for future acquisition opportunities.

Chairman William K Fung said: “There is no doubt that more acquisition deals are available at attractive prices at a time of global economic uncertainty.”

Get Weekly Logistics & Supply Chain News
Get Weekly Logistics & Supply Chain News
Thank you for your subscription