DFIHY DFI Retail Group Holdings Ltd (PK)

By Adria Calatayud

Dairy Farm International Holdings Ltd. said Tuesday that its overall first-quarter performance was significantly affected by the coronavirus pandemic and deteriorating consumer sentiment.

Although the company's grocery retail sales and profit benefited from changing customer behavior as a result of antipandemic measures, its health-and-beauty and convenience businesses, as well as 50%-owned associate Maxim's all experienced a deterioration in the quarter, Dairy Farm said.

The Hong Kong-based retail company said it has taken a series of steps to control costs and preserve its cash position. The company remains confident in its overall financial position and said net debt at March 31 was $991 million with $456 million of liquidity.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

April 28, 2020 06:02 ET (10:02 GMT)

Grafico Azioni DFI Retail (PK) (USOTC:DFIHY)
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