Dufry Reports Solid First Half of 2011

Dufry has reported net income of 57.1 million Swiss Francs (CHF) on revenues of 1.2 billion CHF for the first six months of 2011, compared to net income of 60.7 million CHF on revenues of 1.3 billion CHF for the first half of last year.

The company said in a prepared statement that it has continued to perform strongly and in line with the positive trends seen in Q1. However, it has been impacted by external factors, including the political turmoil in North Africa and the bankruptcy of the Mexicana airline. In addition, the results were impacted by the lower values of the dollar and the euro, which had a negative 17% foreign exchange effect, when translated in Swiss Francs.

During the first half of the year, Dufry continued to open new shops in Europe and Africa, and signed a concession agreement to operate a retail area in the sixth largest airport in China, in Chengdu, serving almost 26 million passengers in 2010. Dufry also expanded operations in Cambodia, Caribbean and South America.

Dufry operates duty free stores and band boutiques at airports and aboard cruise ships, in addition to news outlets and other stores worldwide.

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