Dufry: half-year results better than expected


Dufry on Tuesday reported better-than-expected results for the first six months of the year, driven by a stronger-than-expected recovery in its business linked to the easing of travel restrictions.

The world’s leading operator of duty-free shops and airport retail recorded an operating profit (Ebit) of 159.8 million Swiss francs at the level of its basic activities (‘core’) in the first half, compare with a loss of 103.9 million a year earlier.

In IFRS data, the accounting standard he has favored so far, its operating result stands at 152.4 million Swiss francs, against a consensus which aimed at 67 million.

At group level, its activity in June fell to 85.5% of the comparable period of 2019, a rate which reached nearly 90% for the month of July, expressed at constant exchange rates.

Dufry points out that regions such as North America, Central America or the Caribbean are already operating at or above their pre-pandemic levels, as are some countries in southern Europe or around the Mediterranean.

Regarding the proposed merger with Autogrill, the group indicated that the merger was progressing as planned, providing for the receipt of a majority block of more than 50% of the capital of the Italian group by the first quarter of 2023.

Around 10:00 a.m., the Dufry title gained more than 3% on the Zurich Stock Exchange, while the SMI index yielded 0.3% at the same time.

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