Pan-Asian retailer Dairy Farm International Holdings said today (10 November) it is “trading ahead” of last year with operations in Malaysia and Indonesia seeing sales and profits rise.
In a trading update for the period from 1 July to 9 November, the London-listed Dairy Farm said sales and earnings “continue to grow” with foreign exchange giving the results a boost in US dollar terms.
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Dairy Farm, which oversees a business running over 5,300 across Asia, said its Hong Kong operations had “performed well”.
However, in Taiwan, its Wellcome supermarket chain saw its earnings decline in a “competitive” market.
The retailer’s businesses in Malaysia and Indonesia produced “higher sales and profits”, while in Singapore the businesses remained steady. In India, there was “some improvement” from its supermarket business, while, during the period, Dairy Farm opened its first two supermarkets in Brunei.
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By GlobalData
