Swiss duty-free retailer Avolta reported a slightly better-than-expected annual turnover on Wednesday, helped by growth across all regions amid solid leisure demand.
Reuters
The company, which runs shops at airports, on cruise liners, in seaports, and other tourist locations worldwide, posted an annual core turnover of 13.47 billion Swiss francs ($15.24 billion), up from 12.53 billion francs a year earlier, and slightly ahead of analysts’ forecast of 13.43 billion francs in a poll by Vara Research.
In the medium term, Avolta is targeting core turnover growth of 5-7% per year at constant exchange rates, along with an annual improvement in core profit margins of 20-40 basis points.
For the medium term, Avolta is still targeting core turnover growth at constant exchange rates of 5-7% per year, and an annual improvement in core profit margins of 20-40 basis points.
