DFIRG USD    Last:3.85    -0.04

DAIRY FARM INTERNATIONAL

burnt.... really burnt.. blue chip??? old school stock... die max

stansays      ( Date: 14-Dec-2021 11:00) Posted: Hesitant to load again. OUCH ozone2002      ( Date: 14-Dec-2021 10:22) Posted: Last:2.92        -0.03 just got that sinking feeling reopening of borders will be mid 2022 still 6 months away BBs happily pushing down stock to collect cheap b4 the reopening Gd luck dyodd

 

Hesitant to load again. OUCH

ozone2002      ( Date: 14-Dec-2021 10:22) Posted: Last:2.92        -0.03 just got that sinking feeling reopening of borders will be mid 2022 still 6 months away BBs happily pushing down stock to collect cheap b4 the reopening Gd luck dyodd ozone2002      ( Date: 08-Dec-2021 13:19) Posted: Maxed out buying at Low $3s waiting for blood on the streets situation to recover gd luck dyod

 

Last:2.92        -0.03
just got that sinking feeling
reopening of borders will be mid 2022
still 6 months away
BBs happily pushing down stock to collect cheap b4 the reopening
Gd luck dyodd

ozone2002      ( Date: 08-Dec-2021 13:19) Posted: Maxed out buying at Low $3s waiting for blood on the streets situation to recover gd luck dyodd vivacious      ( Date: 08-Dec-2021 11:46) Posted: r u vested

 

Buy a little today.

 

being a long time that i have seen a stock then keep droppinh for like 6 mths??

 

today SGX short volume report shows the short volume today very heavy for this counter. 
sign. Do not know when china border can be reopened with HK.

 

tampines giant much lesser ppl liao compare to number of years ago. seems like change managemnet, px of some gds much higher than ntuc n ss....displaying of fruits also not tat much...

des_khor      ( Date: 08-Dec-2021 11:50) Posted: Why share price keep going down ? We can go to Giant and Guardian to take a look .... the answer is there !

 

unbelievably oversold

 

seriosly oversold

 

OVERSOLD

 

buy now

 

Maxed out buying at Low $3s
waiting for blood on the streets situation to recover
gd luck dyodd

vivacious      ( Date: 08-Dec-2021 11:46) Posted: r u vested? ozone2002      ( Date: 03-Dec-2021 12:07) Posted: Last:3.03        +0.04 discount at supermarket below $3 continue to accumulate on dip gd luck dyodd

 

UOBKH has just lowered their TP today to $3.60 from $4.53 while maintaining " Buy" rating. 

des_khor      ( Date: 08-Dec-2021 11:50) Posted: Why share price keep going down ? We can go to Giant and Guardian to take a look .... the answer is there !

 

Why share price keep going down ? We can go to Giant and Guardian to take a look .... the answer is there !

 

r u vested?

ozone2002      ( Date: 03-Dec-2021 12:07) Posted: Last:3.03        +0.04 discount at supermarket below $3 continue to accumulate on dip gd luck dyodd ozone2002      ( Date: 24-Nov-2021 14:13) Posted:   Last:3.21        +0.04 suddenly ran up, that was quick gd luck dyodd

 

Dairy Farm Int&rsquo l Holdings (DFI SP)
China Malaise Not Confined To The Tech Sector
WHAT&rsquo S NEW
N o t e s
Wednesday, 08 December 2021
  KEY FINANCIALS
Year to 31 Dec (US$m)
Net turnover
EBITDA
Operating profit 426 Net profit (rep./act.) 324 Net profit (adj.) 324 EPS (US$ cent) 23.9 PE (x) 12.7 P/B (x) 3.4 EV/EBITDA (x) 3.5 Dividend yield (%) 6.9 Net margin (%) 2.9 Net debt/(cash) to equity (%) 67.9 Interest cover (x) 9.0 ROE (%) 27.7 Consensus net profit - UOBKH/Consensus (x) -
Source: Dairy Farm Intl Holdings, Bloomberg, UOB Kay Hian
4.50 4.00 3.50 3.00
2.50 4
3 Vo l u m e ( m ) 2
1
0
110 100 90 80 70 60
Dec 21
2019
2020 2021F
2022F 2023F
9,802 9,939 1,373 1,392 393 398 220 284 220 284
BUY
(Maintained)
Share Price Target Price Upside (Previous TP
COMPANY DESCRIPTION
US$3.04 US$3.60 +18.3% US$4.53)
  The high base in 2020, which was positively affected by panic spending and
  government support, means that DFI has a tough act to follow. Increased levels of
  competition in China have hurt its key associate Yonghui, and positive yoy
  performances from some of its segments do not appear to be able to rescue its 2021
  numbers. We believe 2021 earnings downgrades have hit a trough and investors should
  be rewarded over the next few months. Maintain BUY. Target price lowered to US$3.60.
&bull 2020&rsquo s high base is a tough act to follow. Thus far in 2021, Dairy Farm International&rsquo s (DFI) operational performance, and its share price performance as a result, has been underwhelming to say the least. In 2H21 to date, its share price decline of nearly 29% has mirrored the drawdown in China&rsquo s tech sector. This can be partly explained by the poor performance of its Yonghui Superstores associate in China (DFI&rsquo s stake: 21.08%) which reported a loss of over Rmb1b in 3Q21 alone, and a loss of Rmb2.2b for 9M21 due to intense competition for the grocery dollar in that country. The lack of open borders between Hong Kong and China has also resulted in poor results from its health & beauty and grocery retail businesses in Hong Kong.
&bull In our view, the poor 2021 results should be priced in. We believe that DFI&rsquo s anticipated poor performance for the upcoming 2021 results season is largely priced in. With consensus having already downgraded earnings by > 50% in the past 3-4 months, and earnings likely to trough in 2021 in our view, we expect DFI&rsquo s share price to re-rate in the next few months once the 2022 earnings growth comes into view. The company has in place its &ldquo multi-year transformation programme&rdquo and remains encouraged by the momentum of the progress, though the market will still need to see evidence of this in the near to medium term.
&bull 3Q21 was weaker than expected. In its 3Q21 business update, DFI presented a mixed view of its businesses with revenue for the convenience segment, Maxim&rsquo s and Yonghui performing better on a yoy basis &ndash however as indicated above, the competition in China has materially degraded Yonghui&rsquo s margins with no guidance from management as to when this will turn around. On the negative side, the grocery, health & beauty and home furnishings segments were worse off vs 3Q20, although it appears that vs 1H21, the convenience and health & beauty segments were stronger.
DFI operates and manages retail stores in over 12 markets and four divisions, namely food, health & beauty, home furnishings and restaurants (associate level).
STOCK DATA
GICS sector
Bloomberg ticker:
Shares issued (m):
Market cap (US$m):
Market cap (US$m):
3-mth avg daily t' over (US$m):
Price Performance (%)
52-week high/low
1mth 3mth
(10.9) (15.6)
Major Shareholders
Jardine Matheson
6mth
(30.9)
1yr
(25.1)
YTD
(27.1)
%
77.58
1.00 0.68
FY21 NAV/Share (US$) FY21 Net Debt/Share (US$)
PRICE CHART
(lcy) DAIRYFARMINTLHLDGSLTD 5.00
Consumer Staples DFI SP 1,352.9 4,112.8 4,112.8 2.2
US$4.70/US$3.32
DAIRYFARMINTLHLDGSLTD/FSSTIINDEX (%) 120
  11,192
1,428 1,372 1,353
10,269 9,657
  388 387 271 110 271 110
20.0 8.1 15.2 37.4 3.1 3.0 3.7 3.7 5.4 3.9 2.6 1.1 61.8 67.7 9.6 9.0 21.4 8.2 - 146 - 0.75
Dec 20
Feb 21
Apr 21
Jun21
Aug21
Oct 21
16.2 18.7 2.9 3.7 5.4 2.2 64.7 8.6 15.8 245 0.89
21.0 14.5 2.7 3.6 5.4 2.9 55.7 9.1 19.4 331 0.86

 

Last:3.03        +0.04
discount at supermarket below $3
continue to accumulate on dip
gd luck dyodd

ozone2002      ( Date: 24-Nov-2021 14:13) Posted:   Last:3.21        +0.04 suddenly ran up, that was quick gd luck dyodd ozone2002      ( Date: 23-Nov-2021 19:10) Posted: Last:3.17        -0.04 supermarket conglomerate on sale at discounted prices every biz has its downs as well as ups get a good biz at cheap price and ride it out to enjoy the good times gd luck dyodd

 

aiyo below $3. No point crying over spilt milk (no pun intended). my 3 lots @337 become long term liao

 

Ex CEO of Walmart joining DF, looking good to enter again 😀

 

looking ripe for buy over liao