DFI Retail Group - DBS Research 2024-08-05: Early Signs Of Transformation Progress Encouraging

• DFI Retail Group (SGX:D01) posted 1H24 revenue of US$4.4bn (47% of FY24F), -4% y-o-y. Excluding the Giant sale impact, sales would be -2% y-o-y on marginal declines in the food and convenience segments and a significant 13% decline in the home furnishing segment.
• - Read this at SGinvestors.io -
• DFI declared a higher dividend of 3.5 US cents, +17% y-o-y, in line with its stated policy of absolute dividend growth.

Reaffirmed FY24 profit guidance of US$180mil to US$220mil.

• - Read this at SGinvestors.io -
• Management highlighted that consumers continue to be nervous due to macroeconomics headwinds. They are increasingly looking for convenience and value in their purchase decisions, which the company has sought to fulfill.

Segmental commentaries

Food

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Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-12-04 DFI Retail Group - Improved Visibility On Earnings Trajectory.

Previous report by DBS:
2025-09-22 DFI Retail Group - Positioning To Be A Major Qsr Player In Asia.

Price targets by 2 other brokers at DFI Retail Target Prices.

Listing of research reports at DFI Retail Analyst Reports.

Relevant links:
DFI Retail Share Price History,
DFI Retail Announcements,
DFI Retail Dividend Payout Dates & Corporate Actions,
DFI Retail News