Dairy Farm net earnings up almost 4 times to US$324m

Singapore

PAN-ASIAN supermarket and convenience store operator Dairy Farm's underlying net profit fell 10 per cent to US$321 million in 2019 as social unrest in Hong Kong disrupted operations in its home market during the second half of the year.

After taking into account one-off business restructuring costs incurred in 2018, net profit rose 282 per cent to US$324 million in 2019, from a restated US$85 million in 2018.