Dairy Farm H1 underlying profit rises 5.4% to US$176.6m
But revenue dips 2.8% due to Q4 2018 deconsolidation of Rustan Supercenters
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Singapore
UNDERLYING profit for supermarket and convenience store retailer Dairy Farm International rose 5.4 per cent to US$176.6 million for the half-year ended June 30, from a restated US$167.5 million a year ago. The accounts were restated due to changes in accounting policies.
The group's results were boosted by improved profit margins at Shanghai-listed hypermarket and supermarket operator Yonghui, the deconsolidation of its associate business Yunchuang, and the additional profit contribution from investment in the Robinsons Retail business in the Philippines.
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