NEWS ROUND-UP Bahrain DF reports first half profit of $12.3m
Bahrain Duty Free Shop Complex (BDFS) has reported net profit of $12.3m in the first half of 2018, an increase of +28.3% on the $9.6m registered over the same period the previous year. According to the company, which
announced the results at a recent meeting of the Board of Directors, the increase in H1 net profit relates to ‘good volume growth’
in sales with an increase of $6.2m. This increased gross profits by around $3m. BDFS also achieved an operating profit
of $7.9m in H1 2018, an increase of +12.3% on the $7m during the same period during 2017. Profit from investments rose +71.4% to $4.4m from $2.6m last year, while revenue/sales grew by 15.6% to $46.2m compared to $40m in H1 2017. Total assets for the half year rose by
2.6% to $155m compared to $150.5m the previous year. Bahrain Duty Free Managing Director
Traffic growth +6.7% at European airports in H1
In the first half of this year (H1 2018), passenger traffic at Europe’s airports grew by an average +6.7%, according to Airports Council International (ACI) in Europe. Passenger traffic for the non-EU market
increased by 10.5% – nearly twice the growth of the EU market, which registered a +5.4% rise. Both markets saw the growth dynamic recede slightly in Q2 over Q1, from +12.5% to +9.4% at non-EU airports and from +6.2% to +4.9% at EU airports. In the EU, airports in the Baltic States,
Bulgaria, Croatia, the Czech Republic, Greece, Hungary, Luxembourg, Malta, Poland, Slovakia and Slovenia saw double- digit growth. Meanwhile, airports in Sweden
registered the lowest growth within Europe (+1.5%). ACI says that this was due to the combination of the new national aviation tax introduced last April, the bankruptcy of regional airline Nextjet and lower outbound demand in the wake of local currency hitting its lowest value in years.
Abdulla Buhindi (right) said: “We have focused our efforts on increasingly supporting sales processes that have contributed to an increase in the average transaction value, including upgrading our customer service efficiency.” Meanwhile, BDFS Chairman of the Board
Yousuf Almoayyed revealed net profit of close to $5m in Q2 2018, an increase of +33% on the Q2 2017 figure of $3.7m. The company also registered an operating
profit of $3.9m in the quarter compared to $3.5m in Q2 2017. This represents an increase of +12.4%. In terms of revenue/sales, BDFS
registered $23.4m in Q2, a rise of +15.9% from the $20.1m in the Q2 2017. Almoayyed said the company had
achieved ‘outstanding’ financial results during the first half.
Budapest Airport & Heinemann turn 20
Budapest Airport has marked 20 years of close collaboration with Heinemann Duty Free, which first opened at the airport in 1998. Budapest Airport CCO Kam Jandu (left in
the below picture) said: “Gebr. Heinemann has always been a loyal and important business partner for the airport. “Providing a unique retail offering for all
our customers, together we have expanded and established a successful duty free operation which has become the pillar of our shopping experience.” The retailer opened its first 640sq m
business unit 20 years ago. It now operates 2,320sq m of retail space in Budapest Airport’s SkyCourt including a central walkthrough shop, two boarding gate shops, three specialist fashion stores, a Victoria’s Secret unit and a multi-brand accessories store.
In the last five years alone both parties have presented 30 local brand trinity promotions,
three international
collaborations, an inaugural co-branded loyalty programme (Heinemann & Me) and the BARTA initiative. The retailer’s sales have increased more
than 50% in Budapest since 1998 and the airport continues to comprise the retailer’s highest percentage of regional sales across the whole company’s operations.
BOSS.COM
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