Solid first half for Aldeasa

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Turnover at Spanish duty-free and travel-value retailer Aldeasa grew to Eu270.1m ($306.9m) for the first six months of 2003, an increase of 3.3% on the same period in 2002.

Turnover at Spanish duty-free and travel-value retailer Aldeasa grew to Eu270.1m ($306.9m) for the first six months of 2003, an increase of 3.3% on the same period in 2002. Net profits jumped 15.6 % to Eu10.2m ($11.6m) during the same period, whilst EBITDA was up 7.1% to Eu25.1m ($28.5m).

Strong passenger growth in the second quarter and higher domestic passenger spend boosted travel value and duty-free sales in mainland Spain and the Balearic Islands by 8.2 % to Eu167.8m ($190.7m). The company also revealed that duty-paid sales at airports in the Canary Islands reached Eu43.8m ($49.8m), up 4.4 % on the previous year.

Sales at international outlets controlled by Aldeasa fell by 20.4% to Eu32m ($36.4m), reflecting the strong euro and the closure of its Venezuela business and the Warner Bros outlet at Copenhagen Kastrup.