Travel retailer Dufry Group has reported a rise in its turnover for the first half of 2012 that ended 30 June 2012 by 28.4% to CHF1.51bn ($1.54bn), compared to CHF1.18bn ($1.2bn) for the corresponding period of fiscal 2011.
The company’s organic growth for the period was 7.5%, with like-for-like growth contributing 4.9% and new concessions and expansions adding 2.6%.
Dufry increased its gross margin by 0.8 percentage points to 58.8% in the H1 2012.
The retailers gross profit rose 30.2% to CHF891.7m ($911.1m) for the reporting period while its EBITDA increased 48.4% to CHF220.1m ($225m).
The retailer attributed the rise in profits to factors such as global negotiations with suppliers, promotion and synergies of the acquired businesses.
Dufry Group CEO Julian Diaz said that the company’s last acquisitions continue to perform as expected and the first synergies generated has given it the assurance that it is in the right track of achieving its goals.
"Global prospects for the industry remain positive with an expected 4-5% increase in the number of international passengers in the short and medium term," Diaz added.
"There are substantial regional differences though, and some markets remain fragile. We will therefore continue to be alert to the development in all our operations."
Headquartered in Basel, Dufry operates more than 1’200 duty-free and duty-paid shops in in 45 countries across Europe, Africa, Eurasia, Central America & Caribbean, South America and North America.
The travel retailer employs more than 14,000 people worldwide.