Hellenic posts strong sales growth in 2006

Stefanie Ives

Print Article E-Mail Article E-Mail Author

The Greek duty-free operator has announced a sales increase of 14.8%

Hellenic Duty Free Shops has posted group sales of €300m ($394m) for 2006, a rise of 14.8% on the previous year. Earnings after tax reached €43m ($56.6m), which represent year-on-year growth of 13.6%. EBITDA reached €64.8m ($85.3m), an increase of 11.7%.

Managing director Dimitris Koutsolioutsos said: “I feel very satisfied by the company’s financial performance in 2006. These results came as a reward of our new strategy announced last May. We remain solid on out business plan, aiming at further strengthening the company’s growth. I believe that 2007 will be a significant year for the company.”

Company subsidiary Hellenic Distributions achieved sales of €51.8m ($68.2m) and EBITDA of €6.4m ($8.4m).

The results are in line with analysts’ forecasts published on RavenFox.com last week.