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Exame magazine’s special report named LFP as the top-performing commercial company out of 500 |
PORTUGAL. The Nuance Group and TAP Portuguese joint venture Lojas Francas de Portugal (LFP) has been ranked number one among 500 commercial companies in the country by a leading business publication.
In its 2009 “˜500 Biggest & Best’ survey, Exame studied a range of economic and financial criteria, and profiled firms across a range of business fields. The purpose of the study, noted Exame, was to measure the performance and dynamism of each company, and its contribution to national wealth. The publication highlighted LFP’s +20% growth in revenues during 2008, a negative period for most other companies.
LFP was created in 1995 as a joint venture between leading carrier TAP (which holds 51%) and The Nuance Group. The company is the leading retailer at Portuguese airports, managing and operating 18 outlets at Lisbon, Porto, Faro, Ponta Delgada, Santa Maria and Horta. LFP also controls onboard sales for TAP and STP Airways flights.
LFP Chief Executive Nuno Amaral underlined the commitment of the company’s employees in achieving the top ranking. He said that “plans to improve internal efficiency and productivity and to reduce costs” had also contributed to the good results during the year.
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LFP Chief Executive Nuno Amaral featured in the review of Portugal’s leading firms |
Exame also noted LFP’s work in “promoting higher efficiency in terms of negotiations with suppliers, an increase in investment in marketing and the development of internal training aimed at the needs of the client”.
Last year saw the unveiling of a new retail brand – Just for Travellers – by LFP for the core categories, while it also introduced Just Taste Portugal to highlight regional products and Just Luxury for fashion and high-end products.
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