DFI Retail's (SGX:D01) underlying profit dropped 18% year over year during the first quarter of the year, according to a filing with the Singapore Exchange on Monday.
The drop in profit was mainly due to the divestment of Yonghui, a supermarket chain.
However, excluding divestments, underlying profit surged 28% year over year.
On a like-for-like basis, sales from the Health and Beauty division were up 4%.
LFL sales from the Convenience segment were down 6% year over year due to lower cigarette sales in Hong Kong.
Food profit meanwhile, was up 14% year over year.
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