DFIRG USD    Last:3.89   -

DAIRY FARM INTERNATIONAL

https://www.londonstockexchange.com/stock/DFI/dairy-farm-international-holdings-ld/company-page

 

https://www.bazaartrend.com/sgx-singapore/d01-share-price#.YQelvfkRWUk

 

https://www.businesstimes.com.sg/companies-markets/cgs-cimb-maintains-add-call-on-dairy-farm-stock-raises-target-price-to-us550

 

https://sginvestors.io/sgx/stock/d01-dairyfarm-usd/target-price

chartistkao1      ( Date: 02-Aug-2021 15:53) Posted: https://www.theedgesingapore.com/capital/brokers-calls/uob-kay-hian-initiates-buy-dairy-farm-tp-us519

 

https://www.theedgesingapore.com/capital/brokers-calls/uob-kay-hian-initiates-buy-dairy-farm-tp-us519

 

https://www.dbs.com.sg/treasures-private-client/aics/templatedata/article/equity/data/en/DBSV/012014/DFI_SP.xml

IPO in sgx since feb 1991 at below usd 1

 

DBS downgrades Dairy Farm International to ' hold' , lowers target price to US$3.96

Dairy Farm International USD will likely face challenges in its grocery retail business due to normalising demand in the regions where the pandemic has stabilised, DBS Group Research said.

In a research report on Monday, DBS downgraded its call on the Jardine-owned retail giant to " hold" from " buy" , and lowered its target price on the counter to US$3.96 from US$4.78, amid a weaker-than-expected performance across the group' s segments.

The research team said the share of loss from the group' s associates, especially from its Shanghai-listed supermarket chain Yonghui Superstores, " came as a surprise" .

DBS had cut its earnings estimates for Dairy Farm largely because it previously forecasted profits for the associate. It also lowered valuations after noting that the share prices of Yonghui Superstores and Philippine-listed Robinsons Retail Holdings have both been on a downtrend.

Shares of Dairy Farm were trading at US$3.62 as at the midday break on Monday, down US$0.14 or 3.7 per cent, continuing their fall from last week after the group on Thursday posted a 69.5 per cent on-year decrease in net profit for the half-year period ended June 30.

DBS expects a normalisation of grocery retail demand could continue in key markets of Hong Kong and Singapore as pandemic restrictions are lifted, following the normalisation of its markets in Hong Kong and China.

Although its convenience stores segment rebounded in H1 2021 amid a stable pandemic situation in China, a recent spike in Covid-19 cases in the country may create risks of another lockdown and dampen sales once again, DBS said.

The group' s online channel, Yonghui Superstores, also saw lower margins amid stronger online competition, while its supermarket sales in Indonesia have been hit by consumers who switched to minimart chains amid a surge in Covid-19 cases, the research team added.

In addition, Dairy Farm' s price investment strategy, to support consumption patterns shifting to favour value, will likely take time while the group' s cost structure undergoes changes, leading to the group to face an extended period of lower margins in the meantime, DBS said.

However, the research team says the group' s health and beauty segment could see a sharp recovery when two-way travel between mainland China and Hong Kong resumes, while its earnings for its home furnishing segment will likely be better in the second half of 2021 amid an improved pandemic situation in Taiwan. The two segments had previously been hit by low tourist arrivals in Hong Kong and pandemic restrictions in South-east Asia.

 

 

https://en.wikipedia.org/wiki/Sh%C5%8Dgun_(novel)

 

https://en.wikipedia.org/wiki/Tai-Pan_(novel)

 

good buy opportunity at usd3.62 yield above 3% usd to sgd 1.353

 

me too,
USD3.68 and USD3.52

des_khor      ( Date: 31-Jul-2021 22:28) Posted: Support I think is 3.72 and 3.50 .

 

Support I think is 3.72 and 3.50 .

 

hi all, newbie here.
yesterday add somemore @3.80
hope it stopped bleed, haha
afterall it still make a profit mah

 

 

So a few already know of lower profits before results announcement? Should not be....I am surprised. 

ahbui8      ( Date: 30-Jul-2021 09:36) Posted: No wonder keep dropping the last few days

 

No wonder keep dropping the last few days

 

Retailer Dairy Farm pares dividend as H1 earnings fall 69.5% to US$32.1m

The first-half earnings of Jardine-owned Asian retail giant Dairy Farm International tumbled on the back of seesawing shopper behaviour during the Covid-19 pandemic, prompting the company to warn on Thursday that the outlook for the year remained glum.

Underlying net profit, which excludes non-trading items, fell by 69.5 per cent to US$32.1 million for the six months to June 30, from US$105.1 million in the year before, on lower contributions from the key grocery segment.

Sales were down by 13.4 per cent to US$4.54 billion, owing in part to the divestment of Wellcome Taiwan and Rose Pharmacy in the Philippines.

Dairy Farm also suffered a loss of US$43.6 million in its share of results from associates and joint ventures, compared with a profit contribution of US$4.4 million before this was mainly because key Chinese grocery associate Yonghui saw not just lower sales from consumer volatility, but also thinner margins from stiffer online competition.

Granted, Hong Kong restaurant associate Maxim' s narrowed its losses, and convenience stores posted earnings growth on an improved Covid-19 situation in mainland China, but these boosts was not enough to offset the lower profitability in other segments, especially as consumer behaviour calmed down - compared to the panic buying in 2020, said Dairy Farm.

Net profit fell to US$16.7 million, from US$115.3 million before, as non-trading items swung into a loss on widening business restructuring costs.

Dairy Farm chairman Ben Keswick said in a statement: " Ongoing pandemic-related restrictions have significantly affected trading in all markets, impacting the group' s overall performance in the period.

" There remains significant uncertainty as to the future impact of the pandemic on Dairy Farm' s businesses, and trading conditions in the second half are likely to remain challenging."

Earnings per share fell to 1.24 US cents, from 8.53 US cents before underlying earnings per share dropped to 2.38 US cents, from 7.77 US cents previously.

The board has declared an interim dividend of US$0.03 a share, compared with US$0.05 previously. Books close on Aug 20 and the payout will be made on Oct 13.

Dairy Farm, which is listed in London with secondary listings in Bermuda and Singapore, closed lower by US$0.03 or 0.75 per cent at US$3.98, before the results.

 

 

Omg ! Profit drop so much !

 

RHB upgrades Dairy Farm to ' buy' , citing attractive valuation for recovery

Analysts from RHB on Monday issued an upgraded " buy" call for Dairy Farm International Holdings, citing in a report its valuation that " presents a good opportunity for investors seeking to position for a cyclical recovery" .

Its target price on the stock remains unchanged at US$4.78, representing a 16.9 per cent upside on Monday' s closing price of US$4.09.

" Essentially, the better containment of pandemic situation and smooth ramp-up in vaccination progress, particularly in the North Asia region, augurs well for DFI considering its strong presence and entrenched network of stores," the research house said. " The gradual and broader economy reopening should in turn drive footfalls and earnings recovery for its Health & Beauty (H& B), convenience stores, and restaurants businesses."

Turning to Dairy Farm' s businesses, RHB projects growth in restaurants, convenience stores and home furnishings in view of relaxed lockdown restrictions around the region, even as it expects the group' s high grocery retail earnings to taper off. On the health and beauty front, the analysts predict continuing challenges as long as tourism and shopping mall footfalls do not see recovery.

All said, though, the research team anticipates a 10 per cent earnings growth in FY2021.

The analysts noted the retail group' s plans to strengthen its China operations in the areas of systems upgrading and product innovation, as well as protect its existing market share in Hong Kong. In South-east Asia, RHB mentioned the company' s efforts to introduce new concept stores, and on the whole ramping up its e-commerce capability.

On the environment, social and governance front, RHB also praised Dairy Farm' s moves to source for more sustainable products for its retail businesses, citing two food examples, as well as reducing and recycling plastic products in its production lines and initiatives. It also acted to support its staff through a union initiative, the research team said.

Ultimately, despite reporting a 16 per cent full-year net profit decline in March on Covid-19-induced disruptions, as well as lower sales at its grocery retail businesses in the first quarter of this year, Dairy Farm said in May when it reported these earnings that it " remains encouraged by the progress made in the transformation of the business" in view of underlying profitability surpassing profits achieved in the first quarter of 2019.

Correspondingly, RHB projects a downward trend of price-to-book ratio in the coming two financial years, and an upswing in dividend yield over the same period.

Shares of Dairy Farm International closed unchanged at US$4.09 on Monday.

 

 

coming??
445 in few days time?