Hellenic Duty Free Shops publishes half-year results

Nicole Mezzasalma

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Consolidated sales register a 24.8% increase compared to last year

Greek operator Hellenic Duty Free Shops has posted its financial results for the first half of 2007 today, highlighting an increase of 24.8% in consolidated sales to €137.1m ($187.2m) when compared to the same period last year. The company’s consolidated EBITDA reached €27.2m ($37.1m) in the interval, while net earnings amounted to €17.4m ($23.8m).

Hellenic president of the board of directors George Koutsolioutsos said: “We are satisfied by the company’s financial performance in the first half of 2007, which reaffirms our optimism for this year despite the accession of Bulgaria and Romania to the EU that subsequently affected negatively duty-free sales. Consolidated sales enjoyed double-digit growth reinforced mainly by the sale of the acquired Links [of London] and the increase of passenger traffic by 9.9%.”