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FINANCIAL NEWS
Abu Dhabi Duty Free reports USD54m sales in Q1
23 Apr 2012
(MENAFN) Abu Dhabi Airports Company (ADAC) said that its retail business recorded 32.2 percent increase in quarterly sales, Arabian Business reported.
Abu Dhabi Duty Free said its revenues hit USD54.44 million in the first quarter from a year earlier, against 21 percent traffic growth.
Mohammed Al Bulooki, CCO of ADAC, said the growth resulted partly due to the completion of Terminal 1 refurbishment.
He said the average spend at Abu Dhabi International Airport was now one of the highest in the region.
Abu Dhabi Duty free posted a 12.4 percent increase in profits to USD176.92 million in 2011 from 2010.
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