News / Li & Fung starts to reap the benefits of its major expansion in the logistics sector

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Nearly a year after becoming a more logistics-focused company, Li & Fung is beginning to see the benefit of its acquisition of China’s fourth largest freight forwarder – according to its annual results.

Last year the Hong Kong-based sourcing giant bought China Container Line (CCL), which moves around 500,000teu a year, dramatically increased its presence in the freight forwarding sector and saw its logistics revenues increase by 66% to reach US$874m.

Operating profit for its logistics division grew 28.1% to $46m.

At a group level, ...