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.