By  on March 22, 2012

HONG KONG — Li & Fung Ltd. said net profit for the full year 2011 rose 24 percent, driven by acquisitions, synergies gained from its three-year growth plan and strong growth in Asia.

The sourcing giant posted net profit of $681.2 million, compared with restated earnings of $548.5 million a year ago. Revenue for 2011 rose 26 percent to $20.03 million. Results exceeded what analysts had expected. Analysts, on average, forecast net profit of $617 million.

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