Pan-Asian retailer Dairy Farm International has posted a significant net profit increase in the first half of this year despite a decrease in store numbers.
The company has seen sales grow by 16 per cent for the first half of this year up to US$5bn, according to a report by NamNews. Net profits also increased jumping 24 per cent to US$226m.
The increases came despite the company no longer including results from its Starbucks stores in mainland China.
According to the report, the company’s Wellcome supermarket banner performed reasonably in Hong Kong, while its 7-Eleven stores were less profitable with the company reporting tough market conditions for the chain.
Sales at Wellcome outlets in Taiwan have improved, stated the report, while the banner also saw healthy trade in Singapore with the country’s high dollar boosting sales and profits.
Expansion in Malaysia and India helped sales there, stated the report.
No comments yet