Bahrain Duty Free posts strong surge in Q1 revenues May 14 2010Bahrain Duty Free Shops (BDFS) has announced a strong revenue surge in the first quarter of 2010. Total consolidated sales increased by +16% to US$21 million (compared to Q1 2009), while net profit increased by +19.3%.“Given that total passenger numbers increased by only +5.6% for the first quarter, this is an exceptional result for BDFS, indicating that strong fiscal controls, investment in technology and staff training are returning significant benefits for the business and [that] shareholder value is being maintained,” said the group. All key performance indicators (KPI’s) showed positive upward trends in 2009, with spend per head rising +7%, consolidated passenger penetration rates up +4.8%, transaction numbers increasing +11% and consolidated transaction values rising by +2.2%. “Although trading conditions have been difficult with major price reductions and continuous sales offers and promotions, our overall strategy and our policy of superb customer service is, clearly paying dividends,” said BDFS. Online sales increased by +59% with www.bdutyfree.com hits increasing to 1.2 million per month. All categories with the exception of tobacco performed very well versus 2009, said BDFS, with watches showing a notable increase of +41%. Tobacco sales decreased slightly as a result of the retailer's policy of controlling quantities sold to individuals to prevent any allegations of smuggling. A delay in the opening of the new cruise line port in Bahrain also impacted this category, said the group. “All elements of our business, airport duty free shops, sea ports, inflight duty free and the Navy base as well as our retail training company, Bahrain International Retail Development (BIRD), are performing exceptionally well give the tough economic conditions,” said BDFS General Manager Steve O’Connor. “Our clear focus on ensuring we continue to put the customer first, developing our pre-order and online facilities, combined with offering exceptional and exciting new products is clearly the correct policy,” O’Connor added. Source: The Moodie Report |
Latest NewsBahrain Duty Free posts strong surge in Q1 revenues May 14 2010Bahrain Duty Free Shops posts robust rise in first-half 2010 revenues - Aug 10 Caribbean ARI launches biggest ever promotion in Barbados - Aug 9 |
