HONG KONG — Li & Fung Ltd. said Wednesday that effective cost controls and timely acquisitions resulted in a 39 percent increase in profit attributable to shareholders to 3.37 billion Hong Kong dollars, or $434.6 million, on a 6 percent decline in sales to 104.48 billion Hong Kong dollars, or $13.48 billion, in the year ended Dec. 31.
This compares with profits of 2.42 billion Hong Kong dollars, or $311.1 million, on sales of 110.72 billion Hong Kong dollars, or $14.22 billion, the previous year. All currency conversions were made at average exchange rates for the respective periods.
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