Dairy Farm Group profit takes a hit from restructure

South East Asia .
Dairy Farm Group profit takes a hit from restructure

Inside Retail Asia : Dairy Farm Group has chalked up early wins as it embarks on a five-year transformation plan, with net profit up 5.2 per cent to US$424 million last year.

Group sales rose 4.1 per cent to $11.75 billion, however Dairy Farm Group profit took a $453 million hit from charges relating to the restructure of its ailing Southeast Asian food business. This was partially offset by the sale of its Giant hypermarket store in Ho Chi Minh City, Vietnam, to Auchan and of Rustan’s in the Philippines, which collectively returned $91 million. After factoring in those items, the group’s net profit fell from $402 million in 2017 to just $92 million last year. Full article: https://insideretail.asia/2019/03/01/dairy-farm-group-profit-takes-a-hit-from-restructure/#daily

 

 

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