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Any news folks? :))
seems like DFI buyers are back to " fried" up the price? or some news... :))
or those people just got back from some vacations... :))
seems like DFI buyers are back to " fried" up the price? or some news... :))
or those people just got back from some vacations... :))
Kandee ( Date: 21-Mar-2023 11:11) Posted:
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Yes, saw it about a month ago. I think positive for DFI as it let' s go of a loss making business. However, it surprised me on why they could not turn it around as it had been loss making since 2013...
Anybody came across this?
https://insideretail.asia/2023/02/24/dairy-farm-to-sell-its-malaysian-grocery-business/
https://insideretail.asia/2023/02/24/dairy-farm-to-sell-its-malaysian-grocery-business/
Last:3.1 
-0.2
down almost 5%!
-0.2down almost 5%!
ozone2002 ( Date: 07-Feb-2023 22:59) Posted:
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Seems, the good news already depleted.
now reaching a temp ceiling, waiting for adjustment.
the US fed will increase insterest further will put pressure for USD traded stock as well.
now reaching a temp ceiling, waiting for adjustment.
the US fed will increase insterest further will put pressure for USD traded stock as well.
Analysts mixed on DFI Retail Group as results underperform
ANALYSTS are mixed on DFI Retail Group : D01 +3.91%&rsquo s recovery prospects after the pan-Asian retailer&rsquo s FY2022 results came in weaker than what most research teams expected.
On Mar 2, the group posted underlying earnings of US$29 million for the full year ended December, down 72 per cent from earnings of US$105 million for FY2021.
Net loss for the year stood at US$114.6 million, compared with US$102.9 million in earnings the year before. The loss was mainly due to a US$171 million impairment loss related to the group&rsquo s investment in Robinsons Retail.
Although the group&rsquo s earnings missed consensus estimates, UOB Kay Hian (UOBKH) noted that looking only at the entire fiscal 2022 year misses the improvements that are more evident when looking at the sequential performance in the second half of 2022.
&ldquo At the segmental level, only grocery saw lower revenue and operating profit on a half-on-half basis, while other segments saw significant sequential improvements,&rdquo UOBKH analyst Adrian Loh said in a report.
UOBKH and DBS have maintained their &ldquo buy&rdquo calls, but lowered their target prices. UOBKH cut its target price to US$3.72 from US$3.90, implying a potential upside of 14.8 per cent from the counter&rsquo s last trading price of U$3.24 as at 3.18 pm.
DBS also trimmed its target price on the stock to US$3.80 from US$3.90, implying a potential upside of 17.3 per cent. The lower target price comes as the research team expects continued digital investment costs in the near term.
Meanwhile, Lim & Tan Securities and CGS-CIMB have &ldquo hold&rdquo calls on the stock. The latter raised its target price to US$3.40 from US$2.60 after rolling over its valuation base year, implying a potential upside of 4.9 per cent.
DBS and CGS-CIMB believe the return of mainland China tourists will bode well for DFI Retail&rsquo s health and beauty segment.
&ldquo Chinese tourists are the biggest consumers of health and beauty products in Hong Kong. We estimate that they spend US$3.5 billion on cosmetics products, which are of higher quality and cheaper in Hong Kong,&rdquo said DBS analyst Andy Sim.
However, DFI Retail&rsquo s pace of recovery remains uncertain for CGS-CIMB, as its channel checks show a roughly 30 per cent price premium for products sold in Mannings HK versus popular Chinese e-commerce platforms, with medicinal products an exception.
The research team noted that the continued development of cross-border e-commerce channels and lowered import tariffs in China have broadened product offerings and improved price competitiveness domestically in recent years.
&ldquo We think this could result in some irreversible demand pattern shifts after three years of border closures,&rdquo said CGS-CIMB analyst Ong Khang Chuen.
The reopening trend in North Asia will also drive recovery for the group&rsquo s convenience store and restaurant segments, although grocery retail could suffer from the tapering of demand, both research teams noted.
Expecting a slower-than-expected post-pandemic recovery for the grocery segment, UOBKH lowered its FY2023 and FY2024 earnings estimates after factoring in slightly weaker gross profit margin estimates.
CGS-CIMB expects FY2023 to be a year of recovery for the group, compared with a low base from FY2022. DBS, meanwhile, anticipates a multi-year recovery in these business segments, with full recovery expected in FY2025.
Although earnings per share momentum for the group has been negative over the past 12 months, UOBKH believes the company is near an earnings trough, which should &ldquo incrementally get better&rdquo over the next two to three quarters. The research team projects dividends to pick up in FY2023 due to early signs of business improvement in the year to date.
Agree with DBS...This counter should rise soon with recovery on the reopening in China.
This counter should exclude from STI index
DBS Research
DFI Retail - < Results First Take> Setting a low base for strong FY23 recovery
FY22 headline earnings registered loss of US$115m on impairment loss in associates underlying net profit of US$29m in line with expectations
Significant improvement seen in 2H22, with underlying profit of US$80m, a big swing from loss of US$52m in 1H22, indicating an inflection point
With lifting of pandemic restrictions in China and Hong Kong, we see a refreshing tone of cautious optimism in management&rsquo s outlook
Reopening tailwinds ahead Maintain BUY with TP of US$3.90
DFI Retail - < Results First Take> Setting a low base for strong FY23 recovery
FY22 headline earnings registered loss of US$115m on impairment loss in associates underlying net profit of US$29m in line with expectations
Significant improvement seen in 2H22, with underlying profit of US$80m, a big swing from loss of US$52m in 1H22, indicating an inflection point
With lifting of pandemic restrictions in China and Hong Kong, we see a refreshing tone of cautious optimism in management&rsquo s outlook
Reopening tailwinds ahead Maintain BUY with TP of US$3.90
DFI Retail Group posts 72% drop in underlying earnings to US$29m
DFI RETAIL Group : D01 +1.57% on Thursday (Mar 2) posted underlying earnings of US$29 million for the fiscal year 2022 ended December, down 72 per cent from earnings of US$105 million in FY2021.
The group&rsquo s net loss for the year stood at US$114.6 million versus earnings of US$102.9 million in the prior year. The loss was primarily due to a US$171 million impairment loss related to the group&rsquo s investment in Robinsons Retail.
Underlying earnings distinguishes between the group&rsquo s ongoing business performance and non-trading items, DFI said in its financial results posted on the bourse on Thursday (Mar 2).
Total revenue for the year &ndash which included all of DFI&rsquo s associates and joint ventures &ndash fell 1 per cent to US$27.6 billion from US$27.9 billion.
Reported subsidiary sales, meanwhile, held steady at US$9.2 billion. DFI said strong revenue growth in its health and beauty segments was partially offset by lower sales in the grocery retail division.
The fall in sales in the grocery retail segment was primarily driven by the easing of movement restrictions in South-east Asia, which led to a reduction in eating at home by customers, as well as store disruptions in Singapore due to essential renovations to improve the Cold Storage stores, said DFI.
The company attributed the lower full year underlying profit to the continuing impact of pandemic, inflationary pressures, as well as its increased investment in the digital area.
These factors weighed on the group&rsquo s H1 results, as profit contributions from the grocery retail and convenience divisions, as well as contributions from its associates, were all hit.
The group however said there was a &ldquo substantial improvement&rdquo in profitability in H2. DFI booked an underlying profit of US$80 million in H2, versus an underlying loss of US$52 million in H1.
The board of directors has declared a final dividend of US$0.02, down from the final dividend of US$0.065 in FY2021.
This brings the company&rsquo s total dividend payout for FY2022 to US$0.03. In FY2021, the company paid out US$0.095 in dividends.
The dividend, if approved by the company&rsquo s shareholders at the annual general meeting on May 4, will be paid out to shareholders on May 10.
Looking ahead, DFI said it expects its performance to improve in 2023. The company will continue to monitor the impact of inflationary pressures and changes in consumer sentiment.
DFI added that its overall results will largely depend on the recovery of its health and beauty and restaurants businesses in Hong Kong, as well as an improved performance by its associate, Yonghui, in China.
UOBKH upgrades DFI to &lsquo buy&rsquo raises target on better 2023 outlook
UOB Kay Hian (UOBKH) has upgraded DFI Retail Group : D01 +3.73% to &ldquo buy&rdquo from &ldquo hold&rdquo as it foresees better earnings momentum and a potential margin expansion amid improving market and economic conditions.
Its target price on the stock has been raised to US$3.90 from US$2.96 to reflect a target price-to-earnings (P/E) multiple of 30 times, in line with DFI&rsquo s past five-year average.
In a report on Thursday (Feb 9), analyst Adrian Loh said he believes a discount to the mainboard-listed retail company&rsquo s P/E is no longer warranted, considering how China&rsquo s zero-Covid strategy has been eliminated.
The absence of a Covid-19 spike after the Chinese New Year holidays also led Loh to take a more positive stance on the stock.
With the anticipated normalisation of market and economic conditions, Loh expects DFI to get back on track with its business transformation plan.
The group is also expected to see better earnings momentum as 2023 progresses, said Loh. All of DFI&rsquo s business units are projected to show better year-on-year performance, considering how supply chain challenges have eased over the past few months.
&ldquo After three consecutive years of share price underperformance, we believe that DFI may have turned the corner and could outperform in 2023,&rdquo Loh added.
Supermarket chain Yonghui and restaurant chain Maxim, which are associates of DFI based in mainland China and Hong Kong, respectively, are also expected to see better sequential performance over the next few months.
The brokerage intends to revise its numbers depending on management&rsquo s comments at the group&rsquo s FY2022 results briefing on Mar 2.
Although UOBKH&rsquo s earnings per share forecasts for DFI in FY2023 and FY2024 remain below that of consensus, it foresees incremental improvements over the next two to three quarters as the group is now expected to reach an &ldquo earnings trough&rdquo .
Yonghui, which was the main drag on DFI&rsquo s financial performance in FY2021, is expected to have a similar effect on FY2022, although Loh said the associate has been &ldquo trending more positively of late&rdquo .
Detected distribution by smart money/BBs
time to take profit
time to take profit
maybe soon and March may tell some stories.
https://www.dividends.sg/view/D01
lets see if 6.5c again... :)
https://www.dividends.sg/view/D01
lets see if 6.5c again... :)
Thanks for sharing, chart looks positive!
ozone2002 ( Date: 20-Jan-2023 11:25) Posted:
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Singapore Technical Analysis:
DFI Retail Group Holdings (DFI SP) - Trading BUY
Keppel Corp (KEP SP) - Trading BUY
DFI Retail Group Holdings (DFI SP) - Trading BUY
Keppel Corp (KEP SP) - Trading BUY
3.26 
+0.11
more Ang PaO collection
rise to the top!
+0.11more Ang PaO collection
rise to the top!
ozone2002 ( Date: 06-Jan-2023 17:08) Posted:
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seems party not yet over. lets see... and today seems like an active trading for DFIRG
Seems like party is over?
Phase 2 will be after Chinese new year. More restrictions will be uplifted. Till phase 3 full back to normal precovid estimates Apr-Jun.
Nor sure how high it can go depends on the recovery speed, plus HK is catching up to release more policy to attract foreign investors back to HK.
Nor sure how high it can go depends on the recovery speed, plus HK is catching up to release more policy to attract foreign investors back to HK.
Believe North Asia accounts c.80% so with the reopening, the recovery path is finally in sight.
ozone2002 ( Date: 06-Jan-2023 17:08) Posted:
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