10th Nov 2010 09:06
To: Business Editor For immediate release
The following announcement was issued today to a Regulatory Information Service approved by the Financial Services Authority in the United Kingdom.
DAIRY FARM INTERNATIONAL HOLDINGS LIMITED
Interim Management Statement
10th November 2010 - Dairy Farm International Holdings Limited has today issued an Interim Management Statement covering the period from 1st July to 9th November 2010, in accordance with the requirements of the Disclosure and Transparency Rules issued by the Financial Services Authority in the United Kingdom.
Sales and earnings continued to grow in the period with currency movements enhancing the results in US dollar terms. Including two small acquisitions, the total number of outlets had increased to 5,357 by the end of October 2010.
The Group's Hong Kong operations performed well overall during the period, while Mannings opened a further 21 outlets as it expands its network in mainland China. In Taiwan, IKEA achieved further profit growth, but Wellcome supermarkets saw earnings decline in a competitive market. Restaurant associate, Maxim's, achieved a good result in the period and continues to build its presence on the Mainland.
Dairy Farm's businesses in Malaysia and Indonesia produced higher sales and profits as most formats enjoyed good market conditions, while in Singapore the businesses remained steady. The Group has opened its first two supermarkets in Brunei. In India, there was some improvement in both the supermarket and the health and beauty joint ventures.
Dairy Farm is trading ahead of the same period last year, and is maintaining a strong financial position with net cash at the end of October 2010.
Dairy Farm is a leading pan-Asian retailer. The Group and its associates operate over 5,300 outlets - including supermarkets, hypermarkets, health and beauty stores, convenience stores, home furnishings stores and restaurants - employing over 77,000 people in the region, and had total annual sales in 2009 exceeding US$8 billion. Dairy Farm International Holdings Limited is incorporated in Bermuda. It has a premium listing on the London Stock Exchange, and secondary listings in 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 Limited
Alec Tong (852) 2299 1896
Email: [email protected]
GolinHarris
John Morgan (852) 2501 7939
Email: [email protected]
This and other Group announcements can be accessed through the Internet at 'www.dairyfarmgroup.com'.
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