Just caught DFI Retail's FY25 earnings and the turnaround is pretty solid. Stock jumped to $4.14, up nearly 2% on the news. They swung from a $245 million loss last year to $235 million profit this time around, which is a massive shift. Underlying profit actually hit $270 million, up from $201 million, so the real operational improvement is even better than the headline numbers suggest. EPS grew 35% to 20.05 cents, which explains the market reaction. What's interesting is how they pulled this off - recovery in subsidiary sales, better margins, and they smartly divested their minority stake in Yonghui to clean up the portfolio. Health and Beauty segment was the standout performer with solid like-for-like growth. Revenue stayed flat at $8.87 billion, but the margin expansion and cost management clearly did the heavy lifting. DFI managed to get back to profitability without revenue growth, which is actually impressive given the retail environment. Worth watching how they sustain this momentum into next fiscal.