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HONG KONG - DFI Retail Group Holdings Ltd reported a 39% increase in underlying earnings to US$105 million for the first half of 2025, driven by improved performance in its Health & Beauty division and higher contributions from associates. The company announced plans to divest its Singapore Food business to Macrovalue for approximately US$93 million, with the transaction expected to close by year-end.
The company declared a special dividend of US¢44.30 per share, its first in 18 years, in addition to an interim dividend of US¢3.50 per share, returning a total of US$647 million to shareholders.
DFI’s strategic portfolio simplification continued with the completed divestment of its stakes in Yonghui and Robinsons Retail, generating approximately US$900 million in gross proceeds. These transactions strengthened the company’s balance sheet, resulting in a net cash position of US$442 million as of June 30, compared to US$468 million net debt at the end of 2024.
"We are pleased to report strong first-half underlying profit growth, supported by improved Health & Beauty and Food profitability, higher contribution from associates, and a stabilizing revenue growth trend," said Scott Price, Group Chief Executive.
Health & Beauty delivered 4% like-for-like sales growth, with Mannings Hong Kong showing particularly strong performance at 6%. The Convenience division faced challenges from cigarette tax increases in Hong Kong, while the Food division’s profit grew 14% year-on-year.
The company raised its full-year underlying profit guidance to between US$250 million and US$270 million, up from its previous forecast of US$230-270 million, despite revising its organic revenue growth outlook down to 0.5-1.0% from approximately 2%.
Based on a press release statement, DFI Retail Group continues to focus on its strategic pivot from a portfolio investor to an operating company centered on retail excellence, customer access, omnichannel capabilities, operational efficiency, and portfolio optimization.
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