Pan-Asian retailer Dairy Farm International Holdings said today (5 May) that the business was “trading ahead” of last year but warned its 7-Eleven franchise in southern China was “struggling”.
The company, which runs over 5,000 stores across Asia, said its “major” business had performed well between the start of the year and 4 May.
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“Dairy Farm’s businesses in Malaysia and Indonesia achieved improved results, and those in Singapore also performed well,” it said. “The group continues to explore avenues to build its operations in Vietnam and Brunei, and some progress was seen in both joint venture operations in India.”
However, the retailer added: “The 7-Eleven business stabilised in Hong Kong, but continued to struggle in southern China.”
In March, Dairy Farm revealed that the 7-Eleven business had posted an operating loss for 2009.
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