Dufry: shares weaker after mixed results
(CercleFinance.com) - The Dufry stock fell on Monday after the Swiss travel retailer delivered "mixed" results for the first nine months of the year.
The company said its turnover grew by 4.6% to 6.6 billion Swiss francs in the first nine months of 2018, from 6.3 billion Swiss francs in the same period of 2017.
Like-for-like growth reached 1.8%, Dufry said.
Gross profit margin improved by 50 basis points to 59.9%, compared to 59.4% in the previous year, while net profit stood at 87.5 million Swiss francs, compared to 84.7 million in the previous year.
In its statement, Dufry said it anticipates some "stabilization" of the business in the fourth quarter, with organic growth now expected to be between +2% and +3%.
Dufry shares were down 4.5% at 109.1 Swiss francs in morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The company said its turnover grew by 4.6% to 6.6 billion Swiss francs in the first nine months of 2018, from 6.3 billion Swiss francs in the same period of 2017.
Like-for-like growth reached 1.8%, Dufry said.
Gross profit margin improved by 50 basis points to 59.9%, compared to 59.4% in the previous year, while net profit stood at 87.5 million Swiss francs, compared to 84.7 million in the previous year.
In its statement, Dufry said it anticipates some "stabilization" of the business in the fourth quarter, with organic growth now expected to be between +2% and +3%.
Dufry shares were down 4.5% at 109.1 Swiss francs in morning trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.