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Duty Free International Q2 earnings shoot up 46% to RM13.8m

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AN INCREASE in revenue and foreign exchange gains boosted results for Duty Free International (DFI) in its second quarter.

AN INCREASE in revenue and foreign exchange gains boosted results for Duty Free International (DFI) in its second quarter.

Net profit surged 46 per cent to RM13.8 million (S$4.5 million) from the year-ago period, the group said in a Singapore Exchange filing on Wednesday evening.

For the three months ended Aug 31, revenue grew 4.7 per cent to RM157.0 million from the preceding year. The gain in revenue was mainly derived from the retailing of duty free goods and non-dutiable merchandise segment, it said.

Q2 earnings per share expanded to 1.2 sen from 0.86 sen in the preceding year. Net asset value per share went up to 45.56 sen as at Aug 31, from 36.54 sen as at six months ago.

No dividend was proposed.

DFI shares closed 2.27 per cent or 1 Singapore cent higher at 45 Singapore cents per share on Wednesday.