DFI lifts annual profit guidance after 17 per cent quarterly gain

DFI Retail Group has increased the lower end of its full-year profit forecast after reporting that underlying profit at its subsidiaries from continuing operations rose 17 per cent year on year in the quarter ended Sep 30, 2026. The measure excludes restaurant associate Maxim’s.

In its Oct 23 update, the retailer put its full-year underlying profit guidance at US$295 million to US$305 million, compared with the previous range of US$285 million to US$305 million. DFI did not disclose an exact quarterly profit figure.

The company attributed the earnings improvement mainly to greater profitability in health and beauty and home furnishings, alongside administrative savings from its lean initiatives. Underlying sales across continuing operations increased 4 per cent, or 2 per cent on a like-for-like basis, excluding Singapore Food and Mannings China.

Health and beauty sales grew 7 per cent, with like-for-like growth of 5 per cent across Mannings and Guardian. The division recorded a 12 per cent profit increase as its margin widened by 40 basis points.

Convenience store sales increased 5 per cent, but profit fell 2 per cent because of upfront spending to acquire customers. In Singapore, like-for-like sales growth reached 11 per cent, which DFI linked to higher customer traffic and an expanded range of non-food products.

Food sales were unchanged, while the division’s profit rose 4 per cent on sourcing efficiencies and cost controls. Home furnishings posted a 17 per cent profit increase and 4 per cent like-for-like sales growth.