Dufry: quarterly organic growth rises to 2%
(CercleFinance.com) - Swiss airport retailer Dufry said on Tuesday its first-quarter organic growth improved to 2%, from 1.
8% in the fourth quarter of 2018, driven by strong performance in Asia-Pacific and the Middle East, as well as North America.
The company today reported turnover of 1.88 billion Swiss francs for the first quarter of 2019, compared to 1.82 billion Swiss francs in the same period of 2018, representing a total growth of 3.4%.
In its statement, Dufry said performance was hurt by the shift of Easter into the second quarter and a high comparison basis in the previous year.
By geography, South America remains weak, it added.
Gross profit rose to 1.13 billion Swiss francs, from 1.09 billion Swiss francs, helped by improvements in negotiations with suppliers, brand plans and the launch of exclusive products.
Even so, Dufry made a loss of 109.5 million Swiss francs in the first quarter.
After organic growth reached 2.4% in the month of April, the Basel-based group confirmed its medium-term organic growth guidance range of 3%-4%.
The Zurich-listed Dufy shares were just up after these numbers, adding 0.1%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
8% in the fourth quarter of 2018, driven by strong performance in Asia-Pacific and the Middle East, as well as North America.
The company today reported turnover of 1.88 billion Swiss francs for the first quarter of 2019, compared to 1.82 billion Swiss francs in the same period of 2018, representing a total growth of 3.4%.
In its statement, Dufry said performance was hurt by the shift of Easter into the second quarter and a high comparison basis in the previous year.
By geography, South America remains weak, it added.
Gross profit rose to 1.13 billion Swiss francs, from 1.09 billion Swiss francs, helped by improvements in negotiations with suppliers, brand plans and the launch of exclusive products.
Even so, Dufry made a loss of 109.5 million Swiss francs in the first quarter.
After organic growth reached 2.4% in the month of April, the Basel-based group confirmed its medium-term organic growth guidance range of 3%-4%.
The Zurich-listed Dufy shares were just up after these numbers, adding 0.1%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.