Pan-Asian retailer Dairy Farm International Holdings has posted a rise in half-year profits, boosted by recent acquisitions and new store openings.
Profit attributable to shareholders increased 8% to US$245m for the first six months of the year, while operating profit reached $282.8m, compared to $253m a year earlier. Sales increased 8% to $4.77bn.
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This year, Dairy Farm has acquired a 70% stake in a Cambodian business operating six supermarkets and bought a 50% interest in Rustan Supercenters in the Philippines, which operates ten hypermarkets and 22 supermarkets.
These acquisitions as well as the addition of 149 new stores boosted the retailer’s performance. The company now operates 5,555 stores in total.
Chairman Simon Keswick said: “Despite continuing challenges in the global economy, Dairy Farm is expected to perform satisfactorily in the second half of the year.”
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