(Reuters) -Swiss duty-free retailer Dufry said on Wednesday it expects a sharp rise in 2022 turnover, citing strong demand across its markets as it reported a nearly 57% jump in third quarter sales.
The company, which operates in over 60 countries with around 2,200 shops globally, forecast full-year turnover of 6.6 billion to 6.7 billion Swiss francs ($6.6 billion-$6.7 billion) and core earnings of 560 million-580 million francs.
The retailer – which introduced the new metric of core earnings before interest, taxes, depreciation and amortisation in August – posted turnover of 3.915 billion Swiss francs in 2021.
Dufry, which operates shops at airports, on cruise liners, in seaports, and other tourist locations worldwide, has been benefiting from a strong rebound in global travel, particularly in Europe and the United States, after restrictions imposed to tackle the pandemic were lifted.
“We continue to see strong demand during the third quarter 2022 at attractive margins,” Chief Executive Officer Xavier Rossinyol, who took over the role in June, said in a statement.
Holiday destinations such as the Mediterranean region, middle-east, and the Caribbean among others were driving the performance, he added.
The group reported a turnover of 2.12 billion Swiss francs for the third quarter, up 56.7% in reported growth from a year earlier but 15% below 2019 pre-pandemic level.
($1 = 0.9990 Swiss francs)
(Reporting by Tristan Chabba and Linda Pasquini; Editing by Jan Harvey and Emelia Sithole-Matarise)
