MALAYSIA. Duty Free International (DFI) has reported a +3.6% year-on-year rise in revenues for the financial year ended 29 February to RM157.3 million (US$33.33 million).
However, that results represents a -74.5% decline against the mostly pre-pandemic year ended February 2020 (RM617.2 million/US$130.51 million) as Malaysia continues its recovery from the crisis.
DFI operates duty-free retail outlets, complexes and trading outlets at all leading entry and exit points in Peninsular Malaysia, including assets in airports, seaports, downtown, border towns and popular tourist destinations. These locations include Johor Bahru, Bukit Kayu Hitam, Senai International Airport, Padang Besar and Langkawi.
Concurrent with the rise in revenues, DFI generated a +3.45% year-on-year rise in pre-tax profit to RM18 million (US$3.81 million).
DFI reported a lower net profit of RM14 million (US$2.97 million) in FY2024, marking a decline of RM1.4 million (US$297,000) year-on-year.
DFI noted the net profit decrease was mainly due to increased tax expenses resulting from the complete resumption of business operations at the company’s stores. ✈
