Dairy Farm International Holdings’ (DFI) 1HFY2021 ended June results missed consensus forecasts by a wide margin, prompting RHB Group Research to lower their target price to US$4.42 ($5.98) from $4.78 previously.

RHB’s Singapore research team cut their FY2021-2023 forecasts by 31%, 12% and 6% respectively, after DFI’s core patami for 1HFY2021 fell 70% y-o-y to US$32 million, making up only 10% of RHB and consensus forecasts. 

The lower patami was due to a larger-than-expected dip in grocery retail earnings as well persistent weaknesses in DFI’s health and beauty segment.


To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook