King Power sales rise 50%

Print Article E-Mail Article

King Power International Group (Thailand) has reported financial results for the second quarter ended June 30 2002

For the second quarter of 2002, net revenues were $39.8m, up over 50% on net revenues of $26.3m for the same period in 2001. Net profit for the quarter was $3.2m compared to a net profit of $0.6m for the comparable period in 2001.

For the six-month period ended June 30 2002, net revenues were $84.3m up 44% on net revenues of $57.9m for the same period in 2001. Net profit for the six-month period was $9.2m compared to a net profit of $2.6m for the comparable period in 2001.

King Power said the increases in revenues and net profit resulted from the company's ability to obtain additional space from the Airports Authority of Thailand which allowed it to expand its duty-free business throughout international airports in Thailand, beginning in January 2002.

With its headquarters in Bangkok, King Power (Thailand) is the operator of 47 duty-free and 22 tax-free outlets, primarily in international and domestic airports throughout the country.