GREECE. Hellenic Duty Free Shops this week released further details through local media – subsequently confirmed to The Moodie Report this morning – of an ambitious investment programme for 2006.
The publicly-listed travel retailer said it would spend €8-9 million on enlarging and revamping stores in airports, ports and on land borders, and in opening new outlets.
The news came as a follow-up to a guidance to 2006 issued on 29 March in which Hellenic said its net profits should rise by +16-19% this year to reach €44-45 million. It expects consolidated sales to reach between €290 million and €300 million, a rise of +11-15%.
Hellenic said last month that it will open 17 new stores in airports, ports and border in 2006 and 2007. It will also expand or relocate its network of stores in eight airports. Additionally it will focus on customer service and the introduction of new services and products – such as Bijoux Terner – into existing stores.
Hellenic said yesterday it will open two shops in the ports of Santorini and Katakolo, adding to an existing network of 13 shops in 10 Greek ports. New shops and expansions are scheduled for the airports of Alexandroupolis, Thessaloniki, Corfu, Rhodes, Kephalonia, Samos, Mytilene, Araxos and Skiathos. Hellenic operates a network of 58 shops in 20 airports.
Investor Relations Manager Theodore Gitzos corrected local reports which misquoted the value of the border business to Hellenic. “Border sales accounted for circa 36% of total parent sales for 2005 (including fuel sales),” he told us.
MORE STORIES ON HELLENIC DUTY FREE SHOPS
Hellenic spreads its web with new internet site – 30/03/06
Manasis appointed Deputy Managing Director at Hellenic Duty Free Shops – 24/03/06
