Li & Fung Net Rises 16% on Improved Sales to U.S.

Li & Fung Ltd., the world’s largest supplier of clothes and toys to retailers, reported first-half profit rose 16 percent as revenue from the U.S. climbed.

Net income rose to $111.4 million in the six months that ended in June from a restated $96.4 million a year earlier, the company led by billionaire Chairman William Fung said today in a statement to the Hong Kong’s stock exchange. Sales increased 3 percent to $8.7 billion.