[SINGAPORE] Shares of DFI Retail Group climbed in early trade on Wednesday (Jul 23) morning, after the supermarket and retail store operator posted a rise in underlying profit for H1.
The counter rose as high as US$3.56, 12.7 per cent or US$0.40 above its Tuesday closing price of US$3.16, Yahoo Finance data showed.
By 9.12 am, it eased to US$3.53 – still higher than Tuesday’s closing price by 11.7 per cent or US$0.37 – with 1.4 million shares changing hands.
On Tuesday, DFI Retail announced that its underlying profit increased 38.9 per cent to US$105 million for its first half ended Jun 30, from US$75.6 million in the year-ago period.
This came despite half-year revenue inching down to US$4.39 billion from US$4.4 billion previously.
The group attributed the profit growth to lower financing costs and an improved showing in its associates, as well as its health and beauty, and food segments.
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