SINGAPORE (Mar 5): Supermarket operator Dairy Farm, a Jardine Matheson company, today announced that its FY2019 earnings have surged 282% to US$324 million ($488.8 million) from US$85 million in FY2018.

This was mainly due to the absence of a one-off restructuring cost of about US$435.4 million in FY2018, which led Dairy Farm to a US$273 million loss on net non-trading items a year ago.

Stripping off the one-offs, underlying earnings for FY2019 were 10% lower y-o-y at US$321 million, from US$358 million a year ago.

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