By Michael Susin
DFI Retail Group Holdings Ltd. reported on Thursday a swing to net loss in 2022, despite improved profitability in the second half, on the back of an impairment charge.
The pan-Asian retailer, and member of the Jardine Matheson Holdings Ltd. group, said its net loss came in at $120.6 million compared with a net profit of $91.3 million in 2021.
Revenue came in at $9.17 billion, down from $9.19 billion a year ago.
However, the group booked a loss of $212.0 million from its share of results of associates and joint ventures, compared with a loss of $41.8 million in 2021, given that its grocery retail segment included an impairment charge on interest in Robinsons Retail which amounted to $170.8 million.
The board has declared a final dividend 2.00 cents per share.
"While 2022 was another challenging year for DFI Retail Group, with the pandemic continuing to impact the financial performance of the group's subsidiaries and associates, profitability improved substantially in the second half of the year," it said.
Write to Michael Susin at michael.susin@wsj.com