- In our view, DFI Retail’s outlook is bright given its various initiatives that it has put in place in the past 12 months to drive margins and profitability in the near to medium term. Maintain BUY.
Building momentum.
- - Read this at SGinvestors.io -
- The strong performance was driven by both the convenience and food divisions as well as robust associates’ performance, and a reduction of losses from Yonghui.
- The company declared a final dividend of US$0.035/share (1H23: US$0.03) which was higher than our expectation of US$0.030/share.
A good year for free cash flow and a stronger balance sheet.
- - Read this at SGinvestors.io -
- During its results call, management stated that it was pleased with this and will continue to pare down its debt. Importantly, free cash flow in 1H24 increased materially to US$447m as a result of the strong business recovery.
Food segment saw a slight dip in revenue
- Read more at SGinvestors.io.
