Dairy Farm International Hldgs Ltd Interim Management Statement (0367W)
09 November 2017 - 8:08PM
UK Regulatory
TIDMDFI TIDMJAR TIDMJDS
RNS Number : 0367W
Dairy Farm International Hldgs Ltd
09 November 2017
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 November 2017 - Dairy Farm International Holdings Limited
has today issued an Interim Management Statement for the third
quarter of 2017.
Dairy Farm's sales were flat for the period as improved
performances in Health and Beauty, Home Furnishings, Restaurants
and Yonghui were offset by lower sales in the Food Division. The
lower Food Division sales, together with new store pre-opening
costs in Home Furnishings, led to underlying profits being
marginally below the same period in the prior year. Similar trading
conditions are expected to continue for the remainder of the
year.
The weakness seen in the Food Division was principally driven by
difficult trading for the hypermarket and supermarket operations in
Southeast Asia, where reviews of a number of the businesses are
being undertaken, while the results from Greater China showed
improvement over the same period last year. The convenience store
operations produced improved sales and profitability.
Yonghui reported a strong 20% growth in revenue and 131%
increase in profit in the quarter.
The Health and Beauty Division's improved results were driven
principally by a strong performance in Hong Kong and Macau. Home
Funishings traded well, although profitability was reduced due to
pre-opening expenses for the new store in Hong Kong. Maxim's had a
seasonally strong quarter in both sales and profit, benefiting from
record mooncake sales during the Mid-Autumn Festival period.
In August, the Group completed the acquisition of the remaining
34% interest in Rustan's in the Philippines from its joint venture
partner. In September, Maxim's acquired the existing business and
exclusive rights to operate and develop Starbucks franchise stores
in Singapore, with over 130 stores currently in operation.
Dairy Farm is a leading pan-Asian retailer. The Group, together
with its associates and joint ventures, operate over 6,600 outlets
- including supermarkets, hypermarkets, convenience stores, health
and beauty stores, home furnishings stores and restaurants -
employing over 180,000 people, and had total annual sales in 2016
exceeding US$20 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
Siobhan Xiaohui Zheng (852) 3512 5044
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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