Li & Fung reports 20 percent drop in 2018 operating profit

For the year ended 31 December 2018, Li & Fung Limited said, on a like-for-like basis and excluding the impact of the strategic divestment of the three product verticals in April 2018, which triggered a one-off disposal loss of 114 million dollars, core operating profit decreased by 20 percent to 285 million dollars due to decreases in turnover and total margin in the supply chain solutions business, as well as continued investment in digitalization in line with the company’s long-term strategic plan. Turnover decreased by 6.2 percent to 12.7 billion dollars.