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Hellenic grows sales as traffic fallsHellenic grows sales as traffic falls
17-Feb-2004
The Greek operator reports 2003 sales up 17% despite a tough year for local tourism
Greek operator Hellenic Duty Free has reported annual sales of Eu231.4m ($296.7m), up 17.2% despite lower international traffic throughout 2003. Pre-tax profit for the year rose 25% to Eu51.6m ($66.2m), in line with analysts' forecasts.
The company, which has exclusive rights to Greece's duty-free retail business until 2048, is expecting a sales increase of over 50% to Eu356m ($456.4m) in 2004 as a result of the summer's Olympic Games, to be held in Athens.
As earlier revealed on TRW, a poll of analysts conducted by Reuters news service last week anticipated similar results ( click here).
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(3-May-2003) - GREECE. Greek airport, port and border shop operator Hellenic Duty Free Shops has enjoyed a promising start to 2003.
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(14-Oct-2004) - The Greek operator adjusts its annual forecast to account for slow traffic during the Olympic Games in Athens
(26-Jan-2006) - Reports indicate private investment company BC Partners plans to purchase a stake in Hellenic Duty Free Shops
(18-Dec-2001) - GREECE. Hellenic Duty Free Shops subsidiary Hellenic Distribution is to open 10 stores onboard the ships of Greek ferry operator Minoan Flying Dolphins, sources close to the deal told DFNI.