DFI Retail reports $326.58m loss for full year 2024

The group attributed it to divestments and impairments in the year.

DFI Retail reported a loss attributable to shareholders of $326.58m (US$245m) in the full year ending 31 December 2024.

The group attributed the loss to the $151.96m (US$114m) associated with the divestment of the supermarket chain Yonghui, the $307.91m (US$231m) impairment of interest in Robinsons Retail, and $177.28m (US$133m) goodwill impairment of Macau and Cambodia Food businesses.

The group’s total revenue from subsidiaries dipped by 3% year-on-year to $11.86 (US$8.9b). Total revenue for the Group, including 100% of associates and joint ventures, was $33.19b (US$24.9b), down 6% compared to 2023, largely due to lower sales at Yonghui. Total underlying profit attributable to shareholders was $267.9m (US$201m) for the year, up 30%.

“We have navigated 2024 with resilient business performance and continued market share gains for our key business units by proactively adapting to changing market conditions through a stronger value proposition, expanded omnichannel presence and disciplined cost control. While challenges remain, we are cautiously optimistic about the outlook for 2025. The Group expects underlying profit attributable to shareholders to be between US$230 million and US$270m in 2025, supported by an organic revenue growth of approximately 2%,” Scott Price, Group Chief Executive, said.