Li Ning first-half net income 49% down
26/08/2011
Chinese sports footwear and apparel brand Li Ning has posted a 49% decline in first-half net income as higher costs and increased competition cut margins.
Profit for the six months ended June 30 decreased to $46 million from $91 million a year earlier, according to a statement filed to the Hong Kong stock exchange. Sales fell 4.8% to $672.8 million.
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