Nuance reports 11% increase in first-half sales

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The world's largest airport retailer realises the benefits of a surge in air traffic in 2004 to date

The Nuance Group has reported an 11% increase in revenues for the first half of 2004 as it benefited from strong increases in air passenger numbers. Sales for the period were SFr825m ($676m).

On a like for like basis (excluding the revenues and profit shares of the Beach Culture and Cayman Islands operations which were disposed of during the period) the increase amounted to 17%, said Nuance.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) for the period also rose 17% to SFr9.1m ($7.5m).

Nuance said it had ?benefited from the higher volumes of international air travellers seen in the first half of 2004. Intensified sales initiatives also largely offset the declines experienced in revenue-per-passenger levels.?

The company said it expects revenues to grow further in the second half of the year, which is traditionally stronger. These will be boosted by the opening of new stores at Toronto and Zurich airports plus its new food and beverage business.