DFI Retail Group Holdings reported a net profit attributable to shareholders of US$235 million for the year ended 31 Dec 2025, swinging from a US$245 million loss a year earlier as improved margins and the sale of non-core assets offset flat revenue.
Underlying earnings per share rose 35 % to 20.05 US cents, while basic EPS came in at 17.41 US cents, reversing the prior-year loss per share of 18.17 US cents. The board recommended a final dividend of 10.50 US cents per share, up from 7.00 US cents a year ago and payable on 13 May 2026 to shareholders on the register at 20 Mar 2026. Together with an interim payout of 3.50 US cents and an October special dividend of 44.30 US cents, total distributions for the year reached 58.80 US cents per share.
Group revenue was unchanged year-on-year at US$8.87 billion, as a 7 % increase in Health & Beauty sales to US$2.62 billion outweighed softer performances elsewhere. By division, underlying operating profit rose 8 % to US$227.7 million at Health & Beauty and 6 % to US$61.5 million at Food, while Convenience slipped 6 % to US$96.7 million on lower cigarette volumes. Home Furnishings more than halved its operating loss, lifting profit to US$25.9 million despite a 3 % sales decline.
Results were bolstered by a favourable sales-mix shift toward higher-margin categories and the completion of disposals, including minority stakes in China’s Yonghui and the Philippines’ Robinsons Retail as well as the Singapore Food business. These actions helped move the balance sheet into a US$70 million net cash position from US$468 million of net debt a year earlier.
Looking ahead, the group plans to deepen its value-for-money positioning, expand ready-to-eat ranges at 7-Eleven, accelerate own-brand development and step up digital monetisation through its DFIQ retail-media platform. Management has set a medium-term goal of lifting underlying profit to between US$310 million and US$350 million by 2028, implying an 11 % compound annual growth rate from the 2025 base, and targets a return on capital employed of at least 15 %.
For 2026, DFI Retail forecasts organic revenue growth of about 2 %–3 % and underlying profit of US$270 million to US$300 million, excluding contributions from divested units.
Chairman Lincoln Pan said the year’s stronger earnings and a total shareholder return of more than 90 % reflected disciplined execution and the benefits of simplifying the portfolio, which has freed up resources for strategic investments. Group Chief Executive Scott Price noted that cost control, margin improvement and a pivot toward higher-return businesses underpinned the turnaround, adding that the net-cash position gives the retailer scope for selective acquisitions and further investments in digital capability and store expansion.
Management cautioned that macroeconomic volatility and intensifying competition across Asian retail markets remain headwinds, but expressed confidence in driving market-share gains in Health & Beauty and Convenience formats while building out an omnichannel ecosystem to support sustainable growth.