Hellenic reports strong earnings for first nine months

Gavin Lipsith

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Hellenic continues growth momentum with healthy increases for the first nine months

Hellenic Duty Free Shops has reported that nine-month earnings before tax, depreciation and amortisation climbed 4.8% to €8.1m ($56.6m), while net income rose to €32.6m ($38.4m) beating expectations of €31.4m ($36.9m). Sales grew by 11.8% on a year-on-year basis to €199.1m ($234.2m).

Hellenic emphasised that the nine-month results were not easily comparable to last year's results as 2005 figures do not include the consolidated results of the companies Efsimon and Efsimon Collections.