Dairy Farm posts 5.2% rise in FY18 underlying net profit, but incurs US$453m restructuring charge

UNDERLYING FY18 net profit for supermarket and convenience store retailer Dairy Farm International Holdings increased 5.2 per cent to US$424 million from the preceding year, the group said in a Singapore Exchange filing on Thursday.

That contributed to net profit falling to US$92 million for the year, compared with US$402 million in 2017.Market voices on: Dairy Farm, Nets to enable WeChat Pay at Singapore's 7-Eleven, Guardian, Cold Storage and Giant stores from Nov 1 The Convenience store business booked higher sales and profit, while sales and profit for Health and Beauty showed double-digit growth.Underlying earnings per share crept up to 31.37 US cents from 29.77 US cents in the preceding year.

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