15 January 2016
Singapore-listed Duty Free International, a subsidiary of Atlan Holdings, posted a +12.5% year-on-year rise in revenue to RM152.9 million (US$34.6 million) in the third quarter ended 30 November 2015.
For the first nine months, revenues rose by +10.4% to RM442.6 million (US$100 million).
Pre-tax profits, driven by the revenues increase, rose by +49.2% for the third quarter to RM21.7 million (US$4.9 million) and by +15.7% for the nine months to RM55.8 million (US$12.6 million).
The third-quarter revenue increase, derived mainly from a +12.4% gain in duty free retail sales, was in turn driven by a pick-up in demand and higher selling prices for certain products. Seven new outlets at Kuala Lumpur International Airport 2 (klia2), which enjoyed phased openings from July 2014 to August 2015, also boosted sales.
Rental expenses, mainly linked to klia2, increased steeply, up by +16% to RM11.4 million (US$2.58 million) in the third quarter and by +15.1% in the first nine months.
Original Source: www.moodiereport.com