Duty Free International's Q3 profit jumps 64.7%
DUTY Free International on Wednesday posted a net profit of RM16.8 million (S$5.5 million) for the third quarter ended Nov 30, 2015, up 64.7 per cent over the previous year. This was on the back of a 12.5 per cent increase in revenue, from RM135.9 million to RM152.9 million.
This was mainly derived from the retailing of duty free goods and non-dutiable merchandise segment which increased by 12.4 per cent or RM16.8 million.
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 Kuala Lumpur International Airport 2, which commenced operations throughout the financial year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Kraft Heinz misses sales estimates as higher prices deter customers
Marriott boosts full-year profit view after mixed Q1 results
J&J advances US$6.48 billion settlement of talc cancer lawsuits
US holds quarterly debt sale steady, starts buybacks this month
US dollar nears six-month high after pre-Fed data shock, yen steady
KFC parent Yum reports surprise drop in global same-store sales on weak demand