DFI Retail Group shares up 5.6% after rise in Q3 underlying profit

[SINGAPORE] Shares of DFI Retail Group rose 5.6 per cent on Tuesday (Oct 27) morning, after the retailer posted a 17 per cent year-on-year increase in its third-quarter underlying profit for the period ended Sep 30.

Shares of DFI opened at US$3.40, before rising to US$3.57 at 9.43 am. This marks a 5.6 per cent increase from its previous closing price of US$3.38.

Some 536,699 shares changed hands with a cumulative value of US$1.9 million as at 9.43 am.

The latest gains extend DFI’s upward price trend since the start of October, and comes after DFI posted a positive set of results for the third quarter ended Sep 30.

DFI raised its full-year underlying earnings guidance to between US$295 million and US$305 million, with the lower end of the range up from the US$285 million previously guided.

The group also committed to lifting its dividend payout ratio from 70 per cent in FY2026 to 80 per cent in FY2027.

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During the quarter, DFI announced that it would assume restaurant associate Maxim’s existing interest in the Starbucks licensed business, a move which analysts are positive on.

Research houses such as DBS Group Research and CGS International remain positive on the conglomerate.

CGSI maintained an “add” recommendation on DFI with a target price of US$5.50, while DBS Group Research reiterated its “buy” call on the stock with an unchanged target price of US$4.50.