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Hellenic to report strong 2006 sales, analysts predictHellenic to report strong 2006 sales, analysts predict
Stefanie Ives
8-Mar-2007
The Greek travel-retailer is expected to announce a net profit of €44.2m ($33.6m) and a rise in retail sales of 14.4% for 2006
Industry experts are expecting Hellenic Duty Free Shops (HDFS) to post retail sales of €299m( $227.2m) for 2006. This would represent year-on-year growth of 14.4% for the company, while net profits would increase by 16.5%. These predictions are based on strong business at Athens airport and the consolidation of British jeweller Links of London.
HDFS majority stakeholder Folli Follie are also expected to post net profits of between €44m ($33.4m) and €45m with sales reaching between €290m ($220.4m) and €300m ($228m).
Passenger traffic at Athens airport, which account for about one third of HDFS sales, rose by 10.8% year-on-year in the last quarter of 2006.
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(17-Nov-2004) - The Greek retailer is expected to announce slower sales growth when it reveals nine-month results next week
(15-Mar-2007) - The Greek duty-free operator has announced a sales increase of 14.8%
(31-Mar-2006) - Hellenic Duty Free Shops reports double-digit sales growth in 2005 and expects further gains in 2006
(19-Aug-2004) - Analysts expect Olympics to boost HDFS profits by 43% for the first half of 2004
(24-Nov-2006) - Hellenic Duty Free Shops has attributed its growth momentum to the implementation of new security rules at Greek airports