Dairy Farm sales flat in Q3

Date : 15 November 2017

The retailer has reported improvement in Health and Beauty, Home Furnishings, Restaurants and Yonghui, however, the food division saw lower sales in the quarter.

Performance of key business units

The hypermarket and supermarket operations in Southeast Asia are still going through difficulties in trading, while the results from Greater China showed improvement over the same period last year.

The convenience store operations saw improved sales and profitability. While Yonghui reported a strong 20% growth in revenue and 131% increase in profit in the quarter.

Improved results in health and beauty were driven mainly by the strong performance in Hong Kong and Macau.

Other developments: Rustan's and Starbucks

In August, Dairy Farm completed the acquisition of the remaining 34% interest in Rustan’s in the Philippines from its joint venture partner.

In September, Maxim’s acquired the existing business and exclusive rights to operate Starbucks franchise stores in Singapore. It currently has over 130 stores in operation.