美歐需求疲軟拖累利豐盈利
Weak demand from the US and Europe has weighed on 2014 profits at Li & Fung, the supplier of made-in-Asia goods to western retailers such as Target, Marks and Spencer and Walmart.
美歐需求的疲軟拖累了利豐(Li & Fung) 2014年盈利。利豐是Target、瑪莎百貨(Marks and Spencer)及沃爾瑪(Walmart)等西方零售商的亞洲商品供貨商。The Hong Kong-based sourcing company, seen as a bellwether of the sector, reported net income of $539m in 2014, down 12 per cent year-on-year but beating analysts’ consensus estimates of $498.5m.
這家總部位於香港的採購企業被視爲行業風向標。該公司報告2014年實現淨利潤5.39億美元，同比下跌12%，但超過了4.985億美元的分析師共識預期。
Revenues for the 12 months to December 31 rose 1.4 per cent year-on-year to $19.3bn, undershooting analysts’ estimates of $19.5bn.
在截至12月31日的12個月內，營收同比增長了1.4%，達到193億美元，低於分析師195億美元的預期。
The Hong Kong-traded group partly blamed a restructuring and foreign exchange moves for its profits slide.
這家香港上市集團將盈利下滑的部分原因歸結爲重組和匯率變動。“The whole macro environment was tough,” said Spencer Fung, chief executive.
該公司首席執行官馮裕鈞(Spencer Fung)表示：“整個宏觀環境十分嚴峻。”Mr Fung added that in addition to currency moves putting pressure on the 8,000 retailers the company supplies, Beijing’s anti-corruption push and the economic slowdown in the eurozone had also crimped profits.
馮裕鈞補充說，除了匯率變動給該公司供貨的8000家零售商帶來壓力以外，中國政府的反腐運動和歐元區經濟放緩也影響了盈利。The weak euro had not helped as roughly one-fifth of the retailers that Li & Fung supplies are based in Europe — weakening profits booked by Li & Fung in the single currency but later converted into dollars.
由於利豐供貨的零售商有大約五分之一位於歐洲，疲軟的歐元也不利於業績——它降低了利豐以歐元入賬但隨後轉成美元的盈利。However, the group said it had escaped the worst from the recent gridlock at major ports on the US west coast that disrupted production at car factories, led to shortages of French fries at Japanese McDonald’s franchises, and prompted a profit warning from Gap, as it was able to divert products to other ports in Canada and Mexico.
不過，該集團表示，由於能夠將產品分流至加拿大和墨西哥的港口，該集團躲過了近期美國西海岸主要港口停工導致的最不利局面。這起停工事件擾亂了汽車廠的生產，導致日本麥當勞(McDonald's)專營店的炸薯條短缺，並促使Gap發佈盈利預警。“There was some effect but it wasn’t material,” Mr Fung said.
馮裕鈞表示：“這一事件產生了一定影響，但並不是實質性的影響。”Li & Fung last year used an all-stock spin-off to split itself into two companies: a sourcing and logistics company, and the other managing and licensing brands, called Global Brands Group.
去年，利豐開展了全股票剝離操作，將自身分拆爲兩家企業：一家負責採購和物流，另一家負責品牌管理和授權，稱爲全球品牌集團(Global Brands Group)。Global Brands owns a range of labels such as Juicy Couture, but also holds licences from fashion labels such as Tommy Hilfiger, Calvin Klein and J Lo, the brand launched by film and music star Jennifer Lopez, to produce and sell their products.
全球品牌集團除了持有橘滋(Juicy Couture)等一系列品牌外，還持有湯米•希爾費格(Tommy Hilfiger)、卡爾文•克萊恩(Calvin Klein)和J Lo等時尚品牌的生產和銷售許可。J Lo是由歌影雙棲明星詹尼弗•洛佩茲(Jennifer Lopez)推出的品牌。The group also manages labels including Coach shoes and licensed characters, such as Angry Birds and Spider-Man.
此外，該集團管理的品牌還包括Coach鞋類，以及憤怒的小鳥(Angry Bird)和蜘蛛俠(Spider-Man)等授權人物形象。Li & Fung shares closed up 0.75 per cent at HK$8.03 before the results were announced.
在業績公佈之前，利豐股價收盤上漲0.75%，至每股8.03港元。
