Dairy Farm's H1 profit up 4%

RETAIL group Dairy Farm International Holdings on Thursday announced a 4 per cent year-on-year increase in net profit to US$199 million for the half year ended June 30, 2016.

Sales (excluding from associates and joint ventures) fell one per cent to US$5.56 billion from the year-ago period, despite the closure of a number of underperforming stores in Singapore and Indonesia, the company said.

Half-year earnings per share grew to 14.74 US cents from 14.16 US cents in the preceding year.

Dairy Farm has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore.

Dairy Farm shares closed nine US cents higher at US$6.74 on Thursday.