By  on August 22, 2019

HONG KONG — Li & Fung, the world’s largest supply chain solution provider for brands and retailers, announced on Thursday its interim result for the six months ended June 30.

The century-old company’s turnover decreased by 8.4 percent to $5.35 billion and core operating profit dropped 18.6 percent to $105 million, due to ongoing destocking, customer turnover and customer bankruptcies as brands and retailers continued to face pressure on sales and margins. But its net profit swung back to positive at $21 million.

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