By Adria Calatayud

Dairy Farm International Holdings Ltd. said Wednesday that its overall first-quarter performance was significantly affected by the coronavirus pandemic, which hit sales and profit at its grocery retail and health and beauty businesses.

The Asian retailer--part of the Jardine Matheson Group--said like-for-like sales and profitability improved at its convenience business. Comparable sales at Dairy Farm's home-furnishings business were higher than for the equivalent period, but profit was hurt by higher expenses for new-store openings and reduced profitability in Indonesia.

Dairy Farm said like-for-like sales for its grocery retail business were lower in the first quarter than in the year-earlier period as customer-buying behavior normalized, and profitability fell as a result of lower sales.

The company said it expects continued pressure on year-over-year comparatives in sales and profitability, reflecting normalization of buying patterns in grocery retail and reduced levels of government support, together with uncertainty surrounding the relaxation of travel restrictions in a number of markets. However, the company said it remains confident that it will deliver growth in the medium to long term.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

05-05-21 0552ET