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Magazines Archives - 2008 May
Dairy Farm performs well despite uncertain climate
Story 1
MULTI-FORMAT retail operator Dairy Farm International Holdings Ltd is optimistic about its trading prospects for the year despite the more uncertain economic outlook.
In a May 7 announcement, the company, which operates supermarkets, hypermarkets, and health & beauty, furniture and convenience stores in various parts of Asia, said its major businesses
already performed well for the January 1-May 6 period this year.
The groups north Asian operations are continuing to trade well, with Hong Kong retail activities showing improved results and Taiwan businesses trending positively. In Singapore, all
formats are showing improvement, while the retail businesses in Malaysia are producing enhanced sales and profits as the expansion in store numbers continues, Dairy Farm stated.
Its Indonesian venture, PT Hero, is achieving better results. However, Dairy Farms operations in India are affected by increasing costs and competition.
Since December 2007, Dairy Farm, a member of the Jardine Matheson Group, has been operating, together with its associates, 4,191 outlets and 69,000 employees in Asia, with total annual sales of US$6.8 billion, up from US$5.1 billion in 2006, and a net income of US$257.1 million, an improvement over US$211 million in 2006.
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