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DFI RETAIL GROUP HOLDINGS LIMITED Interim Management Statement
14 November 2024 &ndash DFI Retail Group Holdings Limited today issues its Interim Management Statement for the third quarter of 2024.
OVERVIEW
Overall macroeconomic conditions are evolving across the Group&rsquo s key markets. Within the Group&rsquo s home market of Hong Kong, consumer behavioural changes and increased levels of outbound travel, particularly into the Chinese mainland, led to overall retail sales falling by approximately 10% year-on-year in the third quarter. Within key South East Asian markets, consumer sentiment continues to be adversely impacted by rising cost of living pressures, although becoming more resilient.
The Group continues to advance its strategic initiatives by enhancing the local relevance of assortment, strengthening its omnichannel presence and refining its own brand offering. For the third quarter, the Group reported underlying net profit growth of 4% year-on-year, despite a 3% decline in underlying subsidiary sales compared to the same period in 2023. Improved profit performance by subsidiaries was partially offset by lower contributions from associates.
The recent announcement of the divestment of the Group&rsquo s Yonghui stake underscores the Group&rsquo s commitment to disciplined capital allocation, which aligns with its strategic and capital allocation framework. The Group continued to make good progress in reducing net debt to US$445 million as at 30 September 2024, down from US$549 million at 30 June 2024.
14 November 2024 &ndash DFI Retail Group Holdings Limited today issues its Interim Management Statement for the third quarter of 2024.
OVERVIEW
Overall macroeconomic conditions are evolving across the Group&rsquo s key markets. Within the Group&rsquo s home market of Hong Kong, consumer behavioural changes and increased levels of outbound travel, particularly into the Chinese mainland, led to overall retail sales falling by approximately 10% year-on-year in the third quarter. Within key South East Asian markets, consumer sentiment continues to be adversely impacted by rising cost of living pressures, although becoming more resilient.
The Group continues to advance its strategic initiatives by enhancing the local relevance of assortment, strengthening its omnichannel presence and refining its own brand offering. For the third quarter, the Group reported underlying net profit growth of 4% year-on-year, despite a 3% decline in underlying subsidiary sales compared to the same period in 2023. Improved profit performance by subsidiaries was partially offset by lower contributions from associates.
The recent announcement of the divestment of the Group&rsquo s Yonghui stake underscores the Group&rsquo s commitment to disciplined capital allocation, which aligns with its strategic and capital allocation framework. The Group continued to make good progress in reducing net debt to US$445 million as at 30 September 2024, down from US$549 million at 30 June 2024.
Will Canada convenient stores buy up SG 7.11?
How much will they offer?
Japan already rejected and going for privatisation so no hope.
Huat lar if they are in talk with DFI RG.
dyodd
How much will they offer?
Japan already rejected and going for privatisation so no hope.
Huat lar if they are in talk with DFI RG.
dyodd
Japan 7-11 on GO
https://www.reuters.com/markets/deals/seven-i-considering-launching-management-buyout-nikkei-bloomberg-say-2024-11-13/
https://www.reuters.com/markets/deals/seven-i-considering-launching-management-buyout-nikkei-bloomberg-say-2024-11-13/
Up so much, in talk is possible after Japan rejection
USD 3 soon
DYODD
USD 3 soon
DYODD
This share the least attractive of the Jardine stable
In talk ??.
DYODD
DYODD
BBs block the road for being rock up too fast. Good luck for those who able to get around this price
Next week no more $1 series le, $2 and above before acquisition
Dyodd
Next week no more $1 series le, $2 and above before acquisition
Dyodd
Good chance for GO and Giant might eat up by ntuc then
Dyodd
Dyodd
They are also in the way of discussion for the chances of acquisition by Canada if Japan not willing to sell.
Dyodd
Dyodd
Doubt the deal will happen. The Japanese will not let Westerners steal one of their crown jewels like this. The exact epitome of Japanese nightmares since the gunboat diplomacy of Commodore Perry almost 200 years ago.
https://www.theedgesingapore.com/views/tech/7-eleven-circle-k-and-new-convenience-store-giant
Highly possible will be privatised after Japan 7-11 deal is done.
Hong Kong and Singapore 7-11 are highly profitable to attract investors
DYODD
Hong Kong and Singapore 7-11 are highly profitable to attract investors
DYODD
JCC and JH up 15 and 30cents respectively
DFIRG still can -1cents, time up back to above $2 liao
Tmr xd for 3.5cents, DYODD
DFIRG still can -1cents, time up back to above $2 liao
Tmr xd for 3.5cents, DYODD
JAPAN
7-Eleven deal talk reflects allure of Japan?s convenience stores
7-Eleven deal talk reflects allure of Japan?s convenience stores
https://www.theedgesingapore.com/news/japan/7-eleven-deal-talk-reflects-allure-japans-convenience-stores
Will Singapore b7-12 be the same as Japan 7-11 privatisatin.
Making money for SG 7-11 will it be the next call?
DYODD
Making money for SG 7-11 will it be the next call?
DYODD