Revenue for the first half of the financial year came in at US$5.2 billion, 9% lower than US$5.8 billion in the previous year, primarily due to the annualised impact of the stores closures in 2019 under the group’s space optimisation plan in Southeast Asia, as well as reduced revenues from Convenience Stores and Health and Beauty as a result of pandemic-related restrictions. This was partially offset by improved profits from the Grocery Retail and Home Furnishings businesses.
Supermarket and convenience store operator Dairy Farm, a Jardine Matheson company, today announced that its 1H20 earnings have dropped by 35% to US$115 million ($158.3 million) from US$178 million in 1H19.
Stripping off the one-offs, underlying earnings for 1H20 was US$105 million, 40% lower than US$177 million in 1H19.
