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DFI Retail Group's net profit to fall 17% in FY2022: CGS-CIMB

Jovi Ho
Jovi Ho6/27/2022 10:32 AM GMT+08  • 4 min read
DFI Retail Group's net profit to fall 17% in FY2022: CGS-CIMB
Formerly Dairy Farm International, DFI can expect weaker margins in FY2022 and even a profit decline, says CGS-CIMB Research.
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DFI Retail Group (formerly Dairy Farm International Holdings) can expect weaker margins in FY2022 and perhaps a profit decline, say CGS-CIMB Research analysts Ong Khang Chuen and Kenneth Tan.

“While we think that the worst is likely over for Hong Kong retail sales with easing Covid-related restrictions since late-April, and rollout of the HK$10,000 ($1.765.33) consumption voucher scheme, we continue to see a bumpy path to recovery for DFI,” note Ong and Tan.

“Given HK and Mainland China’s current divergence in Covid strategy, we see significant challenges to borders reopening in the near-term,” they add.

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