Hong Kong-based retail conglomerate Dairy Farm International Holdings said today (29 July) it saw first-half profits rise almost 17% on the back of higher sales.

Dairy Farm posted US$181.4m profit after tax for the first half of 2010, up 16.7% on the first half of 2009. Sales reached US$4.3bn, up 13% on the previous year.

Chairman Simon Keswick said: "Based on current market conditions, Dairy Farm is expected to continue to trade well in the second half of 2010 and to produce a satisfactory result for the full year."

The company, which has stores in markets including China, Malaysia and Singapore, opened 127 outlets over the half to reach 5,198 stores in operation over the half.