DFI Retail Group s basic earnings fell 18% in the first quarter

DFI Retail Group said it continues to expect its full-year basic profit for fiscal 2025 to range from $230 million to $270 million, supported by approximately 2% revenue growth in its own business.

DFI Retail Group's underlying profit fell 18% year-on-year in the first quarter. If the impact of the sale of equity in China's Yonghui Superstores was not included, the basic profit in the first quarter was a year-on-year increase of 28%.

The Singapore Exchange main board listed company released its business report after the closing of the market on Monday (May 19), pointing out that in the same quarter a year ago, Yonghui Supermarket contributed US$23 million (S$29.8 million) to the group's profit.

DFI Retail Group's share price fell 1.5% on Monday, closing at $2.69.

It pointed out that the Group continues to optimize its investment portfolio and concentrates its capital on high-growth, high-profit-margin businesses, thereby creating long-term value for shareholders. This includes the recently announced sale of Singapore’s food business (Cold Storage, CS Fresh, Jason’s Deli and Giant brands), with the deal to be completed by the end of 2025, which will strengthen the group’s balance sheet.