UPDATE 1-China's Li Ning sees cost cuts lifting faltering margins
Fri, Mar 30 05:31 AM EDT

By Twinnie Siu and Rachel Lee

HONG KONG, March 30 (Reuters) - Private equity-backed Chinese sportswear brand Li Ning Co Ltd, which a day before reported a two-thirds drop in 2011 net profit due to intense competition, expects savings in staff and operating costs to help boost gross profit margins this year, company executives said.

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