Duty Free International’s 2Q earnings up 45% to $4.5 mil

SINGAPORE (Oct 12): Duty Free International, the largest multi-channel duty free and duty paid retail group in Malaysia with more than 40 retail outlets, saw 2Q17 earnings rise 45.3% to RM13.8 million ($4.5 million) from a year ago. On a half-year basis, earnings rose 40.4% to RM33.7 million.

Quarterly group revenue increased by 4.7% to RM157 million due to the increase in retailing of duty free goods and non-dutiable merchandise (Duty Free) section. The revenue growth came from an increase in sales volume, an improvement in the pricing of certain merchandise, and the contribution from new outlets at Kuala Lumpur International Airport 2 (KLIA 2).

Profit before tax rose 46.6% to RM21.4 million mainly due to the increase in revenue and a net gain in the foreign exchange of RM0.4 million in 2Q17 against to a foreign exchange loss of RM4.6 million in 2Q16.

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