ASIA: Retailer Dairy Farm "trading ahead" of last year
Pan-Asian retailer Dairy Farm International Holdings has said it is trading ahead of last year, with growth recorded across the majority of its business.
The company said sales and earnings increased in the period from 1 July to 6 November.
Dairy Farm said its major businesses "continued to trade well in most locations" during the period, with a "good performance" from its Wellcome supermarkets, an "improvement" in its Taiwan business and "steady progress" made in mainland China.
The group's businesses in Malaysia were steady, but the firm said its Singapore operations experienced increased operating costs. Results from its Indonesian business was affected by translation due to the weaker local currency.
To: Business Editor For immediate release
The following announcement was issued today to a Regulatory Information Service approved by the Financial Services Authority in the United Kingdom.
DAIRY FARM INTERNATIONAL HOLDINGS LIMITED
Interim Management Statement
7th November 2012 - Dairy Farm International Holdings Limited has today issued an Interim Management Statement covering the period from 1st July to 6th November 2012, in accordance with the requirements of the Disclosure and Transparency Rules of the Financial Services Authority in the United Kingdom.
Dairy Farm's major businesses continued to trade well in most locations during the period under review. In Hong Kong, Mannings health and beauty operations achieved excellent results, and there was a good performance from Wellcome supermarkets. The businesses in Taiwan continued to improve, and steady progress was made in mainland China. Restaurant associate, Maxim's, also delivered a strong performance. The Group's businesses in Malaysia were steady, but the Singapore operations experience increased operating costs. Good progress continued to be made in the Indonesian businesses, although the results were affected on translation due to the weaker local currency.
The Group is trading ahead of the same period last year with growth in sales and earnings. Its financial position remains healthy with a net cash position at the end of October.
Dairy Farm is a leading pan-Asian retailer. The Group and its associates operate over 5,500 outlets - including supermarkets, hypermarkets, health and beauty stores, convenience stores, home furnishings stores and restaurants - employing over 90,000 people in the region, and had total annual sales in 2011 exceeding US$10 billion. Dairy Farm International Holdings Limited is incorporated in Bermuda and has a premium listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. It is a member of the Jardine Matheson Group.
- end -
For further information, please contact:
Dairy Farm Management Services Limited
Alec Tong (852) 2299 1896
Kennes Young (852) 2501 7987
This and other Group announcements can be accessed through the Internet at 'www.dairyfarmgroup.com'.
Original source: Dairy Farm International Holdings
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