Duty Free International posts 27% jump in Q3 profit led by forex gain

DUTY Free International's net profit for the third quarter ended November 2016 rose 27 per cent to RM21.2 million (S$6.8 million) from RM16.8 million in the company's restated unaudited accounts a year ago largely owing to a foreign exchange net gain.

The mainboard-listed multi-channel duty free and duty paid retail group in Malaysia posted a 13 per cent drop in revenue for the quarter to RM133 million from RM153 million a year ago owing to the slowdown of tourism traffic to and from Thailand following the demise of King Bhumibol in October 2016.

Earnings per share for the quarter came in at 1.81 sen versus a restated 1.52 sen in the previous corresponding period.

The company declared a second interim cash dividend of 1.25 Singapore cents per share versus none declared a year ago.