Li & Fung reported its U.S. business passed the $1 billion mark in 2007, achieving the company’s three-year plan. Overall, the company saw turnover of HK$92.5 billion ($11.85 bn) for the year, growth of 36% from 2006, and the largest turnover growth since 2000. The company reported its ‘core operating profit’ increased by 36%, as well, to HK$3.19 billion ($408.5 mm). Profit attributable to shareholders reached HK$3.1 billion (392.2 mm), an increase of 39% over 2006. Basic earnings per share were 89.5 HK cents ($0.11), an increase of 33% compared to 67.1 HK cents ($0.09) in 2006.


The company now turns its focus to a new three-year plan with a target of $20 billion in turnover by 2010, of which $16 billion will come from the core sourcing business and $4 billion from the onshore businesses in the U.S., Europe, and China. The Group is also targeting $1 billion in core operating profit.