Sales for the year by the group’s subsidiaries of US$11.3 billion were largely unchanged from the US$11.2 billion seen in 2016.
SINGAPORE (Mar 8): Dairy Farm, a member of the Jardine group, reported a 14% decline in FY17 earnings to US$404 million ($531.7 million) from US$496 million a year ago on the back of business change costs, which were incurred due to underperforming stores and stock clearance in the Food Division over the year.
In a Thursday filing, the group refers to its FY17 results as “disappointing” given combined total sales, including 100% of associates and joint ventures, of US$21.8 million for FY17. This represents a 7% improvement from US$20.4 million in FY16, driven by positive performances in most of the group’s formats and key associates.
