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Yonghui divestment may see one-off loss of around US$130 mil but move will benefit DFI in the longer term: analysts
They will be making a profit warning as the disposal leads to US$128million loss, never cut dividend happy liao still want more dividend?
ozone2002 ( Date: 25-Sep-2024 10:39) Posted:
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they shd consider this. Share price needs a boost.
ozone2002 ( Date: 25-Sep-2024 10:39) Posted:
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Dividend sharing to shareholders coming?
CGS International
DFI Retail Group (HOLD, tp:USD1.85) - Disposing of its entire 21% stake in Yonghui
DFI has announced the sale of its entire 21% stake in its associate Yonghui to Miniso Group for cash consideration of Rmb4.5bn.
The transaction will likely lead to a US$128m loss for DFI and is its third grocery business divestment in three years, after Indonesia and Malaysia.
Reiterate Hold and TP of US$1.85.
CGS International
DFI Retail Group (HOLD, tp:USD1.85) - Disposing of its entire 21% stake in Yonghui
DFI has announced the sale of its entire 21% stake in its associate Yonghui to Miniso Group for cash consideration of Rmb4.5bn.
The transaction will likely lead to a US$128m loss for DFI and is its third grocery business divestment in three years, after Indonesia and Malaysia.
Reiterate Hold and TP of US$1.85.
DFI Retail Group disposes of 1.9 bil shares in Yonghui Superstores for RMB4.5 bil
DFI Retail Group has disposed of 1,913,135,376 shares indirectly held through its subsidiary in Yonghui Superstores to Guangdong Juncai International Trading, a subsidiary of MINISO Group Holding Limited.
The disposal of the shares, which are listed on the Shanghai Stock Exchange, will net the group RMB4.9 billion ($823.3 million), or RMB2.35 per share, upon completion.
The completion of the disposal is subject to clearance from relevant antitrust authorities on the Chinese mainland and the Shanghai Stock Exchange, clearance from the relevant foreign exchange authorities on the Chinese mainland for the group&rsquo s account opening for receipt of transfer price.
Additionally, the disposal requires confirmation from the Hong Kong Stock Exchange on no further comments on MINISO Group&rsquo s circular.
Following the completion of the disposal, DFI Retail will cease to hold any interest in Yonghui directly or indirectly through its subsidiaries.
DFI Retail reported earnings of US$76 million ($101.7 million) for 1HFY2024 ended June, up 127% y-o-y.
much needed boost
DFI Retail Group Faces Ongoing Challenges Amid Grocery Divestments and Transformation Efforts
https://www.minichart.com.sg/2024/09/24/dfi-retail-group-faces-ongoing-challenges-amid-grocery-divestments-and-transformation-efforts/
Disposal net RMB4.9b(SGD$823.3m). Book value is USD$925m(SGD$1193m).
This will result in a loss of SGD$370m.
So there will be a profit warning as this huge loss of SGD$370m will result in a loss in the next financial reporting.
This will result in a loss of SGD$370m.
So there will be a profit warning as this huge loss of SGD$370m will result in a loss in the next financial reporting.
vivacious ( Date: 23-Sep-2024 21:05) Posted:
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DFI Retail Group disposes of 1.9 bil shares in Yonghui Superstores for RMB4.5 bil
https://www.theedgesingapore.com/news/insider-moves/dfi-retail-group-disposes-19-bil-shares-yonghui-superstores-rmb45-bil
OVERSOLD. Onward to $3
From KGI
DFI Retail Group Holdings Ltd. (DFI SP) - Long &ndash Entry 1.84 Target 2.04, Stop 1.74
Shares closed higher above the 50dEMA. 5dEMA is about to cross the 20dEMA.
MACD just turned positive, RSI is constructive.
DFI Retail Group Holdings Ltd. (DFI SP) - Long &ndash Entry 1.84 Target 2.04, Stop 1.74
Shares closed higher above the 50dEMA. 5dEMA is about to cross the 20dEMA.
MACD just turned positive, RSI is constructive.
ozone2002 ( Date: 12-Aug-2024 20:18) Posted:
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Last:1.86 
+0.1
wow big surge
Reflects the big boys are collecting after price bottomed out
+0.1wow big surge
Reflects the big boys are collecting after price bottomed out
True but it is also perception vs reality. In DFI disclosures, they have been gaining market share which I suppose came on the back of U Select (owned by China Resources) closing more stores and then Dah Chong Hong also exiting the supermarket business.
slingshotpro ( Date: 04-Aug-2024 11:28) Posted:
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Simply because of these 3 locations
Hong Kong, Macau and Southern China
Hong Kong, Macau and Southern China
n3wbie ( Date: 03-Aug-2024 22:52) Posted:
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Quite simply - this is a Jardine company so do you trust their new management (who is obviously trying to perform) have given clear earnings guidance for FY24 (US$180-220mn). Their reputation is at stake so no real reason for them to jeopardize that - and if so, then valuations is clearly attractive given where it trades relative to peers. Even Sheng Siong trades 30-50% higher in terms of PE multiples which doesnt quite make sense given the size of DFI
7-Eleven operator DFI Retail wants a big bite of ready-to-eat food
The operator of 7-Eleven in Singapore, Hong Kong, Macau and Southern China says growth in the ready-to-eat food arena can make up for fall in cigarette sales
WITH its top line stubbed by declining cigarette sales, the group chief executive of DFI Retail Group : D01 +2.3%, Scott Price, is eyeing a growing appetite for ready-to-eat food &ndash which he believes can transform its chain of convenience stores into &ldquo quick-service restaurants&rdquo .
DFI Retail Group, which operates the 7-Eleven brand in Singapore, Hong Kong, Macau and Southern China, is moving towards driving traffic to its stores for cooked food &ndash which Price says would put the convenience-store chain among players in the quick-service restaurants market.
&ldquo We are seeing, in essence, the opportunity for our 7-Eleven (stores) to become convenient quick-service restaurants,&rdquo he said on Friday (Aug 2), after the group posted robust first-half underlying profit driven by its food and convenience segments.
He added that this was a &ldquo different strategy for growth&rdquo that would become attractive.
He estimates that the quick-service restaurants segment in Hong Kong, which includes fast-food players such as McDonald&rsquo s and KFC, is valued at around US$4 billion. DFI Retail Group already has a finger in the quick-service restaurants pie, operating food brands in Hong Kong such as Maxim&rsquo s MX and Hong Kong Day.
His estimate is in line with data from analytics company GlobalData, which showed that the food service market size for quick-service restaurants and fast food in 2022 stood at US$3.3 billion. The figure is projected to reach US$3.9 billion by 2024, said Anuran Dhar, GlobalData practice head for food service.
With around 1,000 7-Eleven stores in Hong Kong, DFI Retail Group has &ldquo an enormous footprint&rdquo to offer &ldquo a pretty exciting, convenient proposition of both cold and hot foods&rdquo , said Price.
He noted that 7-Eleven is &ldquo powerfully known&rdquo across Asia, and that consumers in Japan were also likely familiar with it.
Japan&rsquo s 7-Eleven stores are considered subject-matter experts in the ready-to-eat arena, he said, adding that DFI&rsquo s collaborations with the chain have even put onigiri, a Japanese rice ball, on the menu.
DFI Retail Group&rsquo s pivot to ready-to-eat comes as cigarette sales in the stores have fallen. In the group&rsquo s results, it noted that like-for-like sales performance in Hong Kong was hit by reduced cigarette sale volumes following tax increases kicked in at the end of February.
In comparison, 7-Eleven in Singapore and Southern China had robust like-for-like sales growth, driven by increased foot traffic and strong performance in non-cigarette categories &ndash led by ready-to-eat.
The trend of the ready-to-eat segment gaining while the cigarettes segment declines may be better in the long term. Price said: &ldquo Ready-to-eat is obviously a huge driver of margin expansion, and significantly better than cigarette margins.&rdquo
The growth in its ready-to-eat food portfolio would shore up a decline in cigarette sales, he added.
&ldquo As cigarettes play less in our portfolio from a revenue base, we have an enormous opportunity to replace that with ready-to-eat,&rdquo he said.
On Thursday, the group reported that its underlying profit more than doubled on-year to US$75.6 million for the first half ended Jun 30, from US$33.3 million in the year-ago period.
This is despite its revenue dipping 4 per cent to US$4.4 billion year on year, from US$4.6 billion.
In the convenience division, which includes ready-to-eat foods, profit rose 73 per cent in H1 FY2023. Sales for ready-to-eat grew 13 per cent over the period, the group noted.
7-Eleven operator DFI Retail wants a big bite of ready-to-eat food
The operator of 7-Eleven in Singapore, Hong Kong, Macau and Southern China says growth in the ready-to-eat food arena can make up for fall in cigarette sales
WITH DFI Retail Group : D01 +2.3%&rsquo s top line stubbed by declining cigarette sales, group chief executive Scott Price is eyeing a growing appetite for ready-to-eat food &ndash which he believes can transform the company&rsquo s chain of convenience stores into &ldquo quick-service restaurants&rdquo .
DFI Retail Group, which operates the 7-Eleven brand in Singapore, Hong Kong, Macau and Southern China, is moving towards driving traffic to its stores for cooked food &ndash which Price says would put the convenience-store chain among players in the quick-service restaurants market.
We are seeing, in essence, the opportunity for our 7-Eleven (stores) to become convenient quick-service restaurants,&rdquo he said on Friday (Aug 2), after the group posted robust first-half underlying profit driven by its food and convenience segments.
He added that this was a &ldquo different strategy for growth&rdquo that would become attractive.
He estimates that the quick-service restaurants segment in Hong Kong, which includes fast-food players such as McDonald&rsquo s and KFC, is valued at around US$4 billion. DFI Retail Group already has a finger in the quick-service restaurants pie, operating food brands in Hong Kong such as Maxim&rsquo s MX and Hong Kong Day.
His estimate is in line with data from analytics company GlobalData, which showed that the food service market size for quick-service restaurants and fast food in 2022 stood at US$3.3 billion. The figure is projected to reach US$3.9 billion by 2024, said Anuran Dhar, GlobalData practice head for food service.
With around 1,000 7-Eleven stores in Hong Kong, DFI Retail Group has &ldquo an enormous footprint&rdquo to offer &ldquo a pretty exciting, convenient proposition of both cold and hot foods&rdquo , said Price.
.......
oversold. $3
*DFI* &rsquo s 1H24 underlying profit surges 127% YoY to US$76m, driven by convenience and food divisions. Announced interim dividend of US¢ 3.50 per share (prior US¢ 3.0)
ozone2002 ( Date: 24-May-2024 12:58) Posted:
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Amazing result!
It' ll get better, God willing.
It' ll get better, God willing.