FOOD & BEVERAGE | Staff Reporter, Singapore

Dairy Farm net profit to hit $500m in 2017

Its strong sales in health and beauty division are likely to drive growth.

RHB Research reported a forecast of Dairy Farm’s net profit, which will rise by 6.61% from $469m in 2016 to $500m in 2017.

According to RHB, a 9% sales increase in Hong Kong’s health and beauty sectors in 1H2017 are likely to boost growth.

Further, higher supermarket sales in Singapore in 2H2017, which increased by 6.8%, will boost its food division earnings.

RHB also projected Dairy Farm’s net profit to hit $557m in 2018.

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