Financial News

(5-Aug-2003) Dubai Duty Free (DDF) has claimed a new monthly sales record, posting revenue of Dh114.7m ($31.2m) in July or over $1m a day.

(5-Aug-2003) The Taiwanese government has decided to enact the proposal put forward two months ago that tourists be exempted from the 5% business tax on purchases made in the country's stores.

(29-Jul-2003) BAA's pre-tax profits slip 11.2% to £127m ($178m) for the three months to June 30, but results are boosted by a 3.2% growth in net retail income, to £130m ($182m)

(25-Jul-2003) Clarins cuts anticipates growth of only 75% the levels originally anticipated for the year in Asia, but group ceo Christian Courtin Clarins remains optimistic about long-term prospects

(25-Jul-2003) LVMH Moët Hennessy-Louis Vuitton today announced consolidated sales in the first half of 2003 of Eu5.3bn ($6bn), a 9.9% drop compared to the same period in 2002. But operating income for the period rose 3% compared to last year.

(18-Jul-2003) Beirut Duty Free reported June sales up 52% on the same month last year on the back of a 10% passenger increase. General manager Gerry Crawford said that sales were particularly strong in the fragrances and cosmetics sector.

(18-Jul-2003) **DFNI Exclusive** Beirut Duty Free has reported June sales up 52% on the same month last year. In an exclusive on-site interview with DFNI earlier this week, general manager Gerry Crawford said that he expected sales to continue their improvement after a difficult start for the operator?s new retail complex.

(18-Jul-2003) Airports Company South Africa group executive commercial Rory Mackey tells TRW that major improvements to Johannesburg International airport's retail offer have helped grow the company's commercial revenues by 25%.

(17-Jul-2003) The airport's landlord believes the 42% passenger traffic drop in June is as bad as it will get

(8-Jul-2003) Kuwait Duty Free has shrugged off the combined effects of SARS and regional conflict to produce record results in June.