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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 group’s 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 Farm’s 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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