DFI Retail Group Reports US$292.4 Million Net Loss in FY2024 Amid Strategic Restructuring
Summary:
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Revenue Decline: DFI Retail Group reported revenue of US$8.87 billion for the fiscal year ended 31 December 2024, a 3.3% decrease from US$9.17 billion in FY2023.
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Net Loss: The company recorded a net loss attributable to shareholders of US$292.4 million, compared to a profit of US$96.8 million in the previous year.
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Segment Performance:
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Health & Beauty: Operating profit decreased slightly to US$210.8 million from US$212.5 million in FY2023.
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Convenience Stores: Operating profit increased by 16.6% to US$102.3 million, driven by a favorable product mix and cost control measures.
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Food Division: Operating profit rose to US$57.8 million from US$45.3 million, despite a 5% decline in sales to US$3.1 billion.
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Home Furnishings: Operating profit decreased to US$16.1 million from US$18.5 million, with sales down 12% to US$701 million.
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Strategic Divestments: The company completed the divestment of its entire 21.44% stake in Yonghui Superstores Co., Ltd. in February 2025, and sold its Hero Supermarket operations in Indonesia in June 2024.
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Dividend Proposal: A final dividend of US¢7.00 per share has been proposed for FY2024, subject to shareholder approval at the Annual General Meeting.
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Sustainability Initiatives: DFI Retail Group continued to advance its sustainability agenda, focusing on reducing its environmental footprint and enhancing social governance practices across its operations.