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Healthy growth at Hellenic Duty FreeHealthy growth at Hellenic Duty Free
4-May-2005
The Greek operator reveals solid sales for 2004
Hellenic Duty Free Shops' consolidated turnover reached €234.8m ($304m) in 2004, the company revealed today. Pre-tax earnings, after the deduction of minority interests, reached €58.4m ($75.8m).
At parent company level, turnover increased by 13.9% compared to 2003, to €223.4m ($290), while pre-tax earnings increased by 15% reaching €57.6m ($74m).
Total expenses decreased as a percentage of sales to 29.7% from 30.8% in 2003 resulting in the improvement of the EBITDA margin to 26.2% from 25.7% in 2003.
Return on equity improved to 33.7% compared to 29.1% in 2003 as a result of the improvement of the earning after tax margins, to 19.1% from 18.2%.
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