ASIA: Dairy Farm earnings rise on sales growth
Dairy Farm's operations include running 7-Eleven on a franchise basis in parts of China
Pan-Asian retailer Dairy Farm International Holdings has booked an increase in 2013 earnings, which were boosted by sales gains during the year.
The London-listed company revealed that operating profit rose to US$551.3m in the 12 months to end-December, compared to $479.9m in the prior year.
Post-tax profit increased to $512.9m, compared to $449.6m, the group added. Lower financial charges and higher income from joint ventures lifted the bottom line.
Earnings were propelled by higher sales. 2013 revenue increased to $10.36bn, up from $9.8bn in 2012.
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