DFI Retail Underlying Profit Rises

Dairy Farm International Holdings

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(RTTNews) - DFI Retail Group Holdings Ltd. (DFILF, D01.SI) on Tuesday reported higher first-half underlying profit. The company also returned to a reported profit. The company also raised its full-year organic revenue growth and underlying profit guidance.

For the six months, underlying profit attributable to shareholders increased 11% to $117 million or $8.69 per share from $105 million or $7.79 per share a year ago.

eported profit attributable to shareholders was $118 million or $8.76 per share, compared with a loss of $38 million or $2.79 per share in the prior-year period.

Revenue declined 6% to $4.14 billion from $4.39 billion.

The Health & Beauty segment continued to deliver strong growth, while the Convenience and Home Furnishings businesses returned to growth during the period. E-commerce and DFIQ Media contributed about 35% of total sales growth.

Looking ahead, DFI Retail raised its full-year organic revenue growth forecast to 3.0% - 4.0% from 2.0% - 3.0% previously. The company also increased its underlying profit attributable to shareholders guidance to $285 million - $305 million from its earlier outlook of $270 million - $300 million.