DFI Retail Group H1 underlying profit from continuing business rises 44% to US$117 million

[SINGAPORE] DFI Retail Group posted a 44 per cent rise in underlying profit attributable to shareholders from continuing businesses to US$117 million for its first half ended Jun 30, 2026 on the back of improved operating performance and lower financing costs.

The figure excludes the impacts of the divestment of the Singapore food business, the minority stake in Robinsons Retail and the closure of Mannings China, said the company in a business update on Tuesday (Jul 28).

After including the impact of the divestments and the Mannings China closure, underlying profit was up 11 per cent compared to a year ago.

Underlying earnings per share stood at US$0.0869 for the period, up 12 per cent from US$0.0779 the year before.

Overall subsidiary revenue for H1 fell 6 per cent to US$4.1 billion from US$4.4 billion a year earlier. On a continuing business basis, underlying subsidiary revenue rose 4 per cent. Total revenue including associates stood at US$5.6 billion, up approximately 4 per cent excluding divestments.

Operating profit from continuing businesses – excluding impact from the sale of the Singapore food business and closure of Mannings China – grew 14 per cent year on year in H1.

DFI Retail Group chief executive Scott Price said the performance was “supported by sustained momentum in health and beauty, as well as strong recovery in convenience and home furnishings segments”.

An interim dividend of US$0.0620 per share was declared for the half-year, up 77 per cent from US$0.0350 in the prior year period.

The dividend will be paid on Oct 14, 2026.

SEE ALSO

DFI’s Guardian stores add Holland & Barrett range as UK brand makes Singapore comeback

By segment, sales from the health and beauty division increased 8 per cent to US$1.4 billion from continuing businesses, while convenience sales rose 4 per cent to US$1.2 billion.

Food segment sales from continuing businesses were US$1.1 billion, up 1 per cent year on year, while home furnishings sales grew 4 per cent to US$339.8 million.

Shares of DFI Retail Group closed at US$3.52, up US$0.03 or 0.9 per cent on Tuesday, before the results were released.