Dufry: reports solid quarter on efficiency plan
(CercleFinance.com) - Swiss travel retailer Dufry on Tuesday reported solid results for its first quarter as the group's efficiency plan positively impacted performance.
Dufry's turnover for the quarter ended March 31 reached 1.82 billion Swiss francs, driven by an organic growth of 7.1%, while EBITDA grew by 18.4% to 183.1 million Swiss francs.
Operating margin expanded by 100 basis points to 10.1% in the first quarter, helped by lower concession fees and the initial efficiency contributions.
As a result, net loss narrowed and stood at 47.5 million Swiss francs in the first quarter of 2018, compared to -60.8 million Swiss francs one year earlier.
In its statement, Dufry said the positive market conditions seen throughout 2017 have continued in the first months of 2018, which prompted a 2.2% rise in the Zurich-listed shares Tuesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Dufry's turnover for the quarter ended March 31 reached 1.82 billion Swiss francs, driven by an organic growth of 7.1%, while EBITDA grew by 18.4% to 183.1 million Swiss francs.
Operating margin expanded by 100 basis points to 10.1% in the first quarter, helped by lower concession fees and the initial efficiency contributions.
As a result, net loss narrowed and stood at 47.5 million Swiss francs in the first quarter of 2018, compared to -60.8 million Swiss francs one year earlier.
In its statement, Dufry said the positive market conditions seen throughout 2017 have continued in the first months of 2018, which prompted a 2.2% rise in the Zurich-listed shares Tuesday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.