Corporate Information

Home | Corporate Information | Our Company | Our People | Recruitment

DAIRY FARM INTERNATIONAL HOLDINGS LIMITED
INTERIM REPORT 1998

Notes 1-2

1.BASIS OF PREPARATION

The unaudited half-year results have been prepared in conformity with International Accounting Standards. In accordance with the revised International Accounting Standard 12, deferred taxation is provided, using the liability method, for all temporary differences arising between the tax bases of assets and liabilities and their carrying values. This is a change in accounting policy as in previous years deferred taxation was provided to the extent that a liability or an asset was expected to be payable or receivable in the foreseeable future. The comparative figures for 1997 have been restated to reflect the change in policy. The effect of this change has been to increase the profit after taxation and outside interests for the six months ended 30th June 1997 by US$1.6 million, but reduced the profit for the year ended 31st December 1997 by US$3.3 million and the Shareholders’ funds at 31st December 1997 by US$8.6 million. There have been no other changes to the accounting policies described in the 1997 Financial Statements.




2.SEGMENTAL INFORMATION

	Six months ended 30th June
	Sales		Profit before interest
	1998 US$m	1997 US$m	1998 US$m	1997 US$m
Analysis by activity
Company and subsidiaries:
- Supermarkets	2,464.6	2,784.0	53.4	46.2
- Convenience stores	208.3	209.2	4.5	4.4
- Drugstores/ pharmacies	123.8	124.5	6.7	6.2
- Other retail	22.4	25.1	0.6	0.8
- Manufacturing and trading	69.9	81.7	4.3	6.5
Associates:
- Supermarkets	-	-	(3.5)	(1.7)
- Pharmacies	-	-	-	0.3
- Restaurants	-	-	14.1	20.7
Corporate*	-	-	(20.3)	(15.1)
	2,889.0	3,224.5	59.8	68.3
Discontinued activities (note 3)	-	263.4	41.1	(0.9)
	2,889.0	3,487.9	100.9	67.4

 

 

	Six months ended 30th June
	Sales		Profit before interest
	1998 US$m	1997 US$m	1998 US$m	1997 US$m
Analysis by geographical area
Company and subsidiaries:
- Asia	1,172.8	1,200.7	45.4	46.3
- Australasia
Australia	1,316.3	1,536.0	13.0	5.0
New Zealand	399.9	487.8	11.1	12.8
Associates:
-Asia	-	-	10.6	19.3
Corporate*	-	-	(20.3)	(15.1)
	2,889.0	3,224.5	59.8	68.3
Discontinued activities (note 3)	-	263.4	41.1	(0.9)
	2,889.0	3,487.9	100.9	67.4
* Corporate includes goodwill amortisation of US$1.9 million (1997: US$1.0 million).





Back to Top

Comments and Suggestions