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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.