6th May 2009 12:14
To: Business Editor For immediate releaseThe following announcement was issued today to a Regulatory Information Service approved by the Financial Services Authority in the United Kingdom.DAIRY FARM INTERNATIONAL HOLDINGS LIMITEDInterim Management Statement6th May 2009 - Dairy Farm International Holdings Limited has today issued an Interim Management Statement covering the period from 1st January to 5th May 2009, in accordance with the requirements of the Disclosure and Transparency Rules issued by the Financial Services Authority of the United Kingdom.During the period under review, Dairy Farm's major businesses continued to perform well in line with expectations, although earnings from some territories are reduced when translated into US dollars at the lower prevailing exchange rates.The Group's North Asian operations traded satisfactorily, particularly the supermarket and health and beauty businesses. Those businesses more exposed to discretionary spending, including 7-Eleven (particularly in South China), IKEA and catering associate Maxim's, suffered some softening in sales as a result of the financial crisis.The businesses in Singapore generally traded well, and those in Malaysia also produced increased sales and profit. In Indonesia, PT Hero achieved an improved result. The Group continues to build its operations in Brunei and Vietnam, and the joint venture operations in India stabilized in what remains a volatile market.Despite the challenging economic situation, the Group's first half results should be satisfactory and the trading prospects for the remainder of the year are broadly positive.Dairy Farm is a leading pan-Asian retailer. At 31st December 2008, the Group and its associates operated 4,649 outlets - including supermarkets, hypermarkets, health and beauty stores, convenience stores, home furnishings stores and restaurants; employed over 75,000 people in the region; and had total annual sales of US$7.7 billion. Dairy Farm International Holdings Limited is incorporated in Bermuda and listed in London, Bermuda and Singapore. It is a member of the Jardine Matheson Group.
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For further information, please contact:Dairy Farm Management Services LimitedHoward Mowlem (852) 2299 1896Email: [email protected]GolinHarrisJohn Morgan (852) 2501 7939Email: [email protected]This and other Group announcements can be accessed through the Internet at 'www.dairyfarmgroup.com'.
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