Dairy Farm International Hldgs Ltd Interim Management Statement (5269N)
09 May 2018 - 9:34PM
UK Regulatory
TIDMDFI TIDMJAR TIDMJDS
RNS Number : 5269N
Dairy Farm International Hldgs Ltd
09 May 2018
To: Business Editor For immediate release
The following announcement was issued today to a Regulatory
Information Service approved by the Financial Conduct Authority in
the United Kingdom.
DAIRY FARM INTERNATIONAL HOLDINGS LIMITED
Interim Management Statement
9th May 2018 - Dairy Farm International Holdings Limited has
today issued its Interim Management Statement for the first quarter
of 2018.
Sales for the period were up on the prior year, although the
trading environment was quite varied across the Group's formats.
The Group's underlying earnings for the first quarter were higher
than the equivalent period last year.
There was a strong overall performance from the Health and
Beauty Division, as well as from key associates Maxim's and
Yonghui, which more than offset continuing weakness in the Food
Division, while IKEA's profits were flat.
Regionally, North Asia continued to drive the Group's
performance, with particularly strong results in Hong Kong, while
Southeast Asia remained challenging.
The Food Division achieved positive sales growth for the period,
but overall operating profits were lower than last year due to
reduced margins across the supermarket and hypermarket businesses,
particularly in Southeast Asia.
The Health and Beauty Division experienced strong growth, other
than in Singapore. There were exceptional performances in Hong Kong
and Macau, driven in large part by increased tourist activity,
although this may not continue through the rest of the year.
IKEA reported higher sales, including the contribution from the
new store opened last year in Hong Kong, but profit was broadly
flat due to higher operating costs. Maxim's and Yonghui delivered
strong sales growth for the period, and their contributions to the
Group's profit were ahead of the prior year.
Dairy Farm is a leading pan-Asian retailer. The Group, together
with its associates and joint ventures, operate over 7,100 outlets
- including supermarkets, hypermarkets, convenience stores, health
and beauty stores, home furnishings stores and restaurants -
employing some 200,000 people, and had total sales in 2017
exceeding US$21 billion. Dairy Farm International Holdings Limited
is incorporated in Bermuda and has a standard listing on the London
Stock Exchange, with secondary listings in Bermuda and Singapore.
It is a member of the Jardine Matheson Group.
- end -
For further information, please contact:
Dairy Farm Management Services Limited
Neil Galloway (852) 2299 1896
Brunswick Group Limited
Annabel Arthur (852) 3512 5075
This and other Group announcements can be accessed through the
internet at 'www.dairyfarmgroup.com'.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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