DFI Retail Group

DBS keeps 'buy' call on DFI Retail Group, flags higher probability of special dividend with lower than expected debt - THE EDGE SINGAPORE

Broker's Calls

DBS keeps 'buy' call on DFI Retail Group, flags higher probability of special dividend with lower than expected debt

'The current deleveraging trajectory also looks very promising tracking ahead of our expectations'
Yonghui divestment may see one-off loss of around US$130 mil but move will benefit DFI in the longer term: analysts - THE EDGE SINGAPORE

Broker's Calls

Yonghui divestment may see one-off loss of around US$130 mil but move will benefit DFI in the longer term: analysts

DBS and Citi have kept their "buy" calls with unchanged target prices of US$2.30 and US$2.67 respectively.
DFI Retail Group disposes of 1.9 bil shares in Yonghui Superstores for RMB4.5 bil  - THE EDGE SINGAPORE

Food & Beverage

DFI Retail Group disposes of 1.9 bil shares in Yonghui Superstores for RMB4.5 bil

The disposal will net the group RMB4.9 billion ($823.3 million), or RMB2.35 per share, upon completion.

Broker's Calls

DFI’s core operating profit improving, RHB maintains ‘buy’ with lower TP of US$2.61

Margin recovery of DFI's food division was encouraging, the analyst highlights.
Mooncake sales could be DFI’s 2HFY2024 key driver, DBS keeps ‘buy’ - THE EDGE SINGAPORE

Broker's Calls

Mooncake sales could be DFI’s 2HFY2024 key driver, DBS keeps ‘buy’

Overall, the analysts believe the company should be on track to deliver their FY2024 earnings expectations.

Results

DFI’s 1HFY2024 underlying profit surges 127% y-o-y to US$76 mil, driven by convenience and food divisions

DFI has declared an interim dividend of 3.5 US cents per share, a 17% increase y-o-y.

Broker's Calls

DBS picks FCT and DFI as its retail picks ahead of JB-Singapore RTS opening at end 2026

After the opening, analysts estimate an incremental annual retail leakage to JB of $1.5-$2.1 bil in the medium term.
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