DFI Retail forecasts US$180m-US$220m FY24 profit

The company maintained its forecast despite strong 1Q24 growth.

DFI Retail Group Holdings Limited maintained its forecast of an underlying profit attributable to shareholders between US$180m and US$220m in FY24, despite strong profit growth in 1Q24.

In 1Q24, the company reported a 2% YoY higher underlying subsidiary revenues and a 60% YoY increase in underlying profits.

The like-for-like sales of its Convenience and Health and Beauty also improved year-on-year.

The company explained that it expects the growth trend in its profit to "decelerate over the remainder of the year."

Despite the anticipated deceleration, DFI Retail stated that its performance for 2024 would still be "stronger" than 2023.