15 January 2016
Malaysian retailing group Duty Free International Limited (DFI) has recorded revenue of RM152.9m ($34.8m) in the third quarter of the 2016 fiscal year. This equates to an increase of 12.5% or RM17m, over the revenue of RM135.9m in the third-quarter of the 2015 fiscal year.
According to the company which runs 34 duty-free outlets and two duty-paid perfumery and cosmetics stores, under the Zon Duty Free banner in airports, seaports, downtown, border towns and popular tourist destinations across the country, the figure was driven by the retailing of duty-free goods and non-dutiable merchandise segment, which rose 12.4% or RM16.8m in the period.
The company said: “The growth was mainly due to an increase in demand and higher selling prices for certain products as well as contributions from seven new outlets at the Kuala Lumpur International airport (KLIA) low-cost klia2 terminal.
This commenced operations throughout the financial year, with the first outlet, which opened in July 2014 and the remaining six stores opening between November 2014, January 2015 and August 2015.
In addition, the rental of premises expenses increased 16% or RM1.6m, from RM9.8m in Q3 of the 2015 fiscal year to RM11.4m in Q3 of the 2016 fiscal equivalent.
The company said this was mainly due to an increase in rental expense of RM0.2m for the KLIA outlet, in tandem with the higher revenue achieved and an increase in rental expenses of RM1.4m for the new outlets at klia2. The rental payable for the KLIA outlet is based partly on sales performance.
Original Source: www.dfnionline.com