Last checked at 13 Nov 2008 09:07
To: Business Editor For immediate releaseThe following announcement was issued today to a Regulatory Information Service approved by the Financial Services Authority in the United Kingdom.DAIRY FARM INTERNATIONAL HOLDINGS LIMITEDInterim Management Statement13th November 2008 - Dairy Farm International Holdings Limited has today issued an Interim Management Statement covering the period from 1st July to 12th November 2008 in accordance with the requirements of the Disclosure and Transparency Rules of the Financial Services Authority of the United Kingdom.Compared to the same period last year, there have been good performances from Dairy Farm's major businesses and the Company's cash flow remains strong.The Group's Hong Kong retail formats continued to trade well, although 50%-owned catering associate Maxim's has experienced some recent slowing in demand. The businesses in Taiwan showed some improvement, and steady progress was made in mainland China. There were improved results in Singapore, while in Malaysia there was further expansion and higher sales and profits. In Indonesia, the positive trend continued at PT Hero, but the Group's retail businesses in India are still struggling against increasing costs and keen competition. Overall, the Group's trading prospects for the remainder of the year remain positive as value shopping is traditionally relatively resilient in difficult economic conditions.Dairy Farm is a leading pan-Asian retailer. At 30th June 2008, the Group and its associates operated 4,359 outlets - including supermarkets, hypermarkets, health and beauty stores, convenience stores, home furnishings stores and restaurants; employed over 73,200 people in the region; and had total annual sales in 2007 of US$6.8 billion. Dairy Farm International Holdings Limited is incorporated in Bermuda and listed in London, Bermuda and Singapore. It is a member of the Jardine Matheson Group.
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For further information, please contact:Dairy Farm Management Services LimitedHoward Mowlem (852) 2299 1896 Email: hmowlem@dairy-farm.com.hkGolinHarrisJohn Morgan (852) 2501 7939 Email: john.morgan@golinharris.comThis and other Group announcements can be accessed through the Internet at 'www.dairyfarmgroup.com'.