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Dufry reports rise in H1 net earnings

RBR Staff Writer Published 12 August 2011

Swiss travel retailer, Dufry has reported an increase in net earnings for the first half of 2011 to CHF46.2m ($60m) compared to CHF40.4m ($53m) in the same period a year ago.

Dufry posted an increase in the first half turnover by 10.2% of which organic growth accounted for 7.9% and gross margin increased further by 1% to 58.0%.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first half of 2011 increased to CHF181.1m ($236m) with the respective EBITDA margin increasing to 13.0% from 12.2%.

In the first half of 2011, earnings before interest and taxes (EBIT) remained at CHF84.7m ($110m) compared to CHF84.2m (109m) in the respective period of 2010.

Dufry said it has enlarged its presence by adding about 5,000m² of net retail space in the first half of 2011, contributing 2.3% of turnover growth.