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Travel retailer Dufry H1 turnover up 28.4%

RBR Staff Writer Published 31 July 2012

Swiss travel retailer Dufry Group has reported a rise in its H1 2012 turnover by 28.4% to CHF1.51bn ($1.54bn), compared to CHF1.18bn ($1.2bn) in the same period of fiscal 2011.

The company's organic growth for the period was 7.5%, with like-for-like growth contributing 4.9% and new concessions and expansions adding 2.6%.

For the first half of 2012, Dufry's gross profit rose 30.2% to CHF891.7m ($911.1m). Earnings before interest, taxes, depreciation and amortization (EBITDA) for the six-month period increased 48.4% to CHF220.1m ($225m).

The retailer attributed the rise in profits to factors such as global negotiations with suppliers, promotion and synergies of the acquired businesses.

Dufry Group CEO Julian Diaz said that the company's last acquisitions continue to perform as expected and the first synergies generated has given it the assurance that it is in the right track of achieving its goals.

"Global prospects for the industry remain positive with an expected 4-5% increase in the number of international passengers in the short and medium term. There are substantial regional differences though, and some markets remain fragile. We will therefore continue to be alert to the development in all our operations," Diaz added.