Edition:
India

LI & Fung Ltd (0494.HK)

0494.HK on Hong Kong Stock

0.93HKD
20 Sep 2019
Change (% chg)

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Latest Key Developments (Source: Significant Developments)

Li & Fung Says H1 Profit Attributable From Continuing Operations $21 Mln
Thursday, 22 Aug 2019 

Aug 22 (Reuters) - LI & Fung Ltd <0494.HK>::H1 PROFIT ATTRIBUTABLE FROM CONTINUING OPERATIONS $21 MILLION VERSUS $48 MILLION.HY TURNOVER $5,356 MILLION VERSUS $ 5,850 MILLION.RESOLVED TO DECLARE AN INTERIM DIVIDEND OF 1 HK CENT PER SHARE.WE EXPECT MULTI-YEAR DESTOCKING TREND IN RETAIL TO CONTINUE THROUGHOUT REMAINDER OF 2019.LI & FUNG - MULTI-YEAR DESTOCKING TREND IS REDUCING CUSTOMERS' MERCHANDIZING BUDGETS & TRANSLATING INTO HEADWINDS FOR SUPPLY CHAIN SOLUTIONS BUSINESS.WITH CONTINUED DISRUPTION IN RETAIL LANDSCAPE, WE EXPECT MORE STORE CLOSURES AND BANKRUPTCIES.STRONG ORGANIC GROWTH MOMENTUM OF IN-COUNTRY LOGISTICS BUSINESS IS EXPECTED TO CONTINUE.SAVINGS FROM RESTRUCTURING OF SOURCING AND PRODUCTION PLATFORM IN 2019 WILL BE ANNUALIZED NEXT YEAR.WILL CONTINUOUSLY REVIEW RISK PROFILE OF CO'S CUSTOMER PORTFOLIO,REDUCE CREDIT RISK AS NEEDED, WHICH WILL NEGATIVELY IMPACT TURNOVER.BREXIT MAY NEGATIVELY IMPACT CONSUMER SENTIMENT IN UNITED KINGDOM AND ACROSS EUROPE, POTENTIALLY IMPACTING TOP LINE.  Full Article

Li & Fung Posts FY Profit Attributable From Cont Ops $126 Mln
Thursday, 21 Mar 2019 

March 21 (Reuters) - LI & Fung Ltd <0494.HK>::FY TURNOVER $12,701 MILLION VERSUS $13,534 MILLION.FY PROFIT ATTRIBUTABLE FROM CONTINUING OPERATIONS $126 MILLION VERSUS $170 MILLION.FINAL DIVIDEND PER SHARE 4 HK CENTS.  Full Article

Li & Fung Ltd Says Marc Robert Compagnon Has Been Re-Designated As A Non-Executive Director
Monday, 28 Jan 2019 

Jan 28 (Reuters) - LI & Fung Ltd <0494.HK>::MARC ROBERT COMPAGNON, AN EXECUTIVE DIRECTOR, HAS BEEN RE-DESIGNATED AS A NON-EXECUTIVE DIRECTOR.  Full Article

Li & Fung Posts HY Profit Attributable From Continuing Ops Of $50 Mln
Wednesday, 22 Aug 2018 

Aug 22 (Reuters) - LI & Fung Ltd <0494.HK>::H1 TURNOVER $5,850 MILLION VERSUS $6,471 MILLION.SEEKING IPO FOR LOGISTICS BUSINESS TO ENHANCE ITS GROWTH.HY PROFIT ATTRIBUTABLE TO SHAREHOLDERS FROM CONTINUING OPERATIONS $50 MILLION VERSUS $91 MILLION."OUR SUPPLY CHAIN SOLUTIONS BUSINESS WILL CONTINUE TO FACE HEADWINDS FROM DESTOCKING FOR REST OF YEAR".DUE TO UNCERTAINTIES OF GLOBAL TRADE, WE EXPECT BRANDS & RETAILERS TO BE MORE CAUTIOUS IN PLACING ORDERS DURING SECOND HALF OF THE YEAR.DECLARES AN INTERIM DIVIDEND OF 3 HK CENTS PER SHARE FOR SIX MONTHS ENDED 30 JUNE 2018.  Full Article

Li & Fung Ltd Appoints ‍Joseph C. Phi As Executive Director​
Wednesday, 10 Jan 2018 

Jan 10 (Reuters) - Li & Fung Ltd <0494.HK>::JOSEPH C. PHI HAS BEEN APPOINTED AS AN EXECUTIVE DIRECTOR​.  Full Article

Li & Fung Sells Furniture, Beauty & Sweaters Product Verticals To True Sage For US$1,100 Mln
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Li & Fung Ltd <0494.HK>::BOARD PROPOSES SPECIAL DIVIDEND OF ABOUT US$0.0614 PER SHARE.DUE TO DIVESTMENT, GROUP EXPECTS TO RECOGNISE LOSS OF ABOUT US$610 MILLION ATTRIBUTABLE TO DISCONTINUED OPERATIONS.TO DIVEST TARGET BUSINESS FOR CONSIDERATION OF US$1,100 MILLION​ TO TRUE SAGE.EXPECTED STRATEGIC DIVESTMENT'S ESTIMATED LOSS TO TRIGGER GROUP REPORTING TOTAL NET LOSS ATTRIBUTABLE TO SHAREHOLDERS IN 2017.‍TARGET BUSINESS COMPRISES FURNITURE, BEAUTY AND SWEATERS PRODUCT VERTICALS UNDER PRODUCTS SEGMENT​.DIVESTMENT'S CLOSING TO TRIGGER REALISATION OF ABOUT US$106 MILLION OF PRIOR PERIOD FOREIGN EXCHANGE NON-CASH TRANSLATION LOSSES.  Full Article

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Li & Fung says Temasek to buy $300 million stake in logistics unit

HONG KONG Global sourcing and logistics group Li & Fung Ltd on Friday said Temasek Holdings (Private) Ltd would buy 21.7% of its subsidiary LF Logistics Holdings for $300 million, and the proposed spin-off IPO of the unit will be postponed.