dairy farm intl

Leadership changes at Mandarin Oriental, DFI Retail

TWO subsidiaries of multinational conglomerate Jardine Matheson Holdings announced leadership changes on Tuesday (May 2).

The reopening trend in North Asia will drive recovery for the group’s convenience store and restaurant segments, although grocery retail could suffer from the tapering of demand, analysts have noted.

Brokers’ take: Analysts mixed on DFI Retail Group as results underperform

ANALYSTS are mixed on DFI Retail Group’s recovery prospects after the pan-Asian retailer’s FY2022 results came in weaker than what most research teams expected.

The fall in sales in the grocery retail segment was primarily driven by the easing of movement restrictions in South-east Asia, says DFI Retail Group.

DFI Retail Group posts 72% drop in underlying earnings to US$29m

DFI RETAIL Group on Thursday (Mar 2) posted underlying earnings of US$29 million for the fiscal year 2022 ended December, down 72 per cent from earnings of US$105 million in FY2021.

UOBKH has raised its target price on the stock to US$3.90 from US$2.96 to reflect a target price-to-earnings multiple of 30 times, in line with DFI’s past five-year average.

Brokers’ take: UOBKH upgrades DFI to ‘buy’; raises target on better 2023 outlook

UOB Kay Hian (UOBKH) has upgraded DFI Retail Group to “buy” from “hold” as it foresees better earnings momentum and a potential margin expansion amid improving market and economic conditions. 

Online grocers like RedMart are competing with incumbent supermarkets that possess institutional knowledge and experience in running a profitable grocery business.
HOCK LOCK SIEW

Poor economies of scale raise questions about viability of grocery delivery startups

OVER a decade after homegrown online grocer RedMart launched its delivery services, many Singapore residents have got used to the idea of having milk, rice and toilet paper delivered to their doorstep...

Dairy Farm International has changed its name to DFI Retail Group Holdings, with effect from May 5.

Dairy Farm International changes name to DFI Retail Group Holdings

DAIRY Farm International has changed its name to DFI Retail Group Holdings, the company said in a bourse filing on May 6 (Friday).  The company will continue to have a primary listing on the London S...

DFI Retail Group, which owns supermarket brands Cold Storage and Giant in Singapore, is expected to post a strong earnings rebound in FY2023, DBS said.

Brokers’ take: DBS expects DFI earnings to bounce back in FY2023; upgrades to ‘buy’

DBS Group Research has upgraded DFI Retail Group to an early, non-consensus “buy” from “hold” as it expects associate performance to bounce back next year.

CGS-CIMB also noted DFI Retail's intent to further invest in e-commerce and expects “elevated” expenses in the medium term.

Brokers’ take: CGS-CIMB lowers target price of DFI Retail Group with ‘bumpy’ recovery ahead

CGS-CIMB on Monday (Jun 27) lowered its target price for DFI Retail Group (DFI) to US$2.70 from US$2.93 amid a continued challenging operating environment, though it still maintains a “hold” position ...

Omicron threat draws mixed reactions from analysts covering Dairy Farm

Omicron threat draws mixed reactions from analysts covering Dairy Farm

AS THE latest Covid-19 variant Omicron continues to spread through the key operating markets of Dairy Farm International (DFI), RHB Research has downgraded its rating on the mainboard-listed retail gr...

Brokers' take: Omicron threat draws mixed reactions from analysts covering Dairy Farm

Brokers' take: Omicron threat draws mixed reactions from analysts covering Dairy Farm

AS THE latest Covid-19 variant Omicron continues to spread through the key operating markets of Dairy Farm International (DFI), RHB Research has downgraded its rating on the mainboard-listed retail gr...