Broker: CGS International
Date of Report: October 31, 2025
Excerpt from CGS International report.
Report Summary
- DFI Retail Group’s profitability surged in 3Q25 with underlying profit up 48% year-on-year, benefiting from cost optimisation and a move towards higher-margin products. The company raised its FY25 core net profit guidance to US\$278m and lifted its target price to US\$4.00, reflecting improved performance and expectations for further growth.
- DFI is focusing on operational improvements, cost controls, and an inorganic growth strategy following portfolio divestments, with potential upside from M&A activities and a stronger recovery in Hong Kong. ESG transformation and sustainability initiatives are progressing, with investment allocated to emission reduction targets.
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