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FINANCIAL NEWS
Dubai Duty Free sales up 14% in Q1
04 Apr 2012
(MENAFN) Dubai Duty Free (DDF) reported 14 percent increase in quarterly sales USD390 million, and is targeting sales of USD1.6 billion by year end, Arabian Business reported.
The world’s largest airport retailer said sales in Terminal 1 increased 15 percent in the first quarter, while Terminal 2 achieved 21 percent sales, and 12 percent in Terminal 3.
The retailer also said that confectionary sales rose 20 percent to USD30.48 million, while electronics increased 19 percent and cosmetics 23 percent.
DDF also said it is in the process of raising a USD1.1 billion loan backed by the airport retailer’s future cash earnings and hired lenders.
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