CHINA: Dairy Farm International posts 2001 profit of US$30m
Asian food and drug retailer Dairy Farm International Holdings Ltd today [Tuesday] reported net profits of US$30.1m for 2001.
Much of the gain is attributed to the sale of assets in Australia. The results come after heavy losses of US$194.5m in 2000.
Dairy Farm also reported that it had earmarked up to US$127.5m to repurchase as many as 170 million shares from shareholders. The group will pay between US$0.66 and US$0.75 per share. Stock closed in Singapore at US$0.635 yesterday.
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