Consolidated sales up by 19.6% at Hellenic Duty Free Shops

Tina Milton

Print Article E-Mail Article E-Mail Author

Sales increased by 19.6% at Hellenic Duty Free Shops during the first nine months of 2007 despite the accession of Bulgaria and Romania to the EU

Hellenic Duty Free Shops shrugged off the impact of Bulgaria's and Romania’s EU accession with an increase in consolidated sales of 19.6% to €260m ($384m) in the first nine months of 2007 compared with the same period last year.

Board of directors president George Koutsolioutsos said: “The financial results for the first nine months are characterised by the sales growth of all the companies of the group, despite the accession of Bulgaria and Romania to the EU that subsequently negatively affected the duty-free sales of the parent company, as well as the absence of duty-free fuel sales.”

Referring to the recent acquisition he said: “The acquisition of Elmec Sport is expected to strengthen our presence in the retail sector, underlying the important role of the group in the Greek market.”