Dufry announces record first half profits
Turnover soars 10% to CHF1.6bn
Travel retailer Dufry has announced first half profits of CHF1.6bn, up 10% on the previous year. Net cash flow from operations soared 49% to CHF 244.0m, while EBITDA margin was 13.1%.
The company said turnover accelerated in the second quarter, with the EMEA and Asian regions (+33.9%), along with the US and Canada (+8.6%) showing solid growth. Latin America also continued to improve.
"I am most encouraged by the results we achieved in the first half of 2013. Like-for-like development has accelerated in the second quarter and we were able to show once more the resilience of the business,” commented Julian Diaz, Dufry Group CEO. “Our focus for the year remains unchanged: develop the existing business by improving and innovating our commercial activities, combined with a disciplined approach to costs. We will also continue to develop our portfolio through new retail space as we have a healthy pipeline of projects.”