The Dufry Group has reported net income of CHF 89.5 million on revenues of CHF 1.9 billion for the first nine months of 2011, compared to net income of CHF 83.5 million on revenues of CHF 2.0 billion last year. Despite acceleration in organic growth and expansion, revenues were down due to exchange rates. Net earnings were down partially due to exchange rates but also due to acquisitions and increased financial costs. Dufry operates duty free and other stores at airports, train stations and aboard cruise ships worldwide. The company has also recently entered the Indian market.