DDF posts Dh3b sales in first-half

Dubai Duty Free, or DDF, recorded nearly Dh3 billion sales in the first half of the year and it is expected to touch Dh6 billion target by the end of 2012. Sales across all three terminals at Dubai International airport, which is the world’s fourth busiest hub for international traffic, showed upward trend. The airport itself recorded more than 13 per cent growth in passenger in the first five months of the year, compared to same period last year. DDF announced an 11 per cent increase in sales for the first half of the year as summer travel moves into top gear. It reported sales reaching Dhs2.818 billion ($772 million) and placing the operation well on track for annual sales of Dhs6 billion ($1.64 billion). Sales in the second quarter of the year is almost the same DDF announced in April for the first quarter at Dh1.42 billion. “We are .... looking forward to an equally busy second half of the year. Plans are very much in place for the opening of Concourse 3 in early 2013 and we are busy working towards the final fit-out of the new retail area and ensuring our recruitment plans are in line with our expanded retail area which will reach 26,000 square metres with the opening of Concourse 3,” Colm McLoughlin, executive vice chairman, Dubai Duty Free, said in a statement on Thursday. Spending trends across all three terminals continued to increase with duty free sales in Terminal 2 increasing by 18 per cent for the first half of the year. Sales in Terminals 1 and 3 rose by 11 per cent and 10 per cent respectively, while overall arrival sales rose by 15 per cent. Gold, perfumes and liquor retained the top three category positions with perfumes in particular showing strong growth with a sales increase of 16 per cent to Dh420 million ($115 million) year-to-date. Sales of confectionery was up by 18 per cent to Dhs224 million ($61 million) while electronics rose by 13 per cent to Dh222 million ($61 million) and accounting for 8 per cent of total revenue. Other notable increases were seen in cosmetics, which rose by 18 per cent. This week, DDF announced that it had concluded its debut international financing of a $1.75 billion, comprising a conventional term loan and Islamic financing. Recruitment at Dubai Duty Free continued in the second quarter of 2012 with 528 new sales assistants appointed, bringing the level of employees to 4,232. Meanwhile on July 1, operation marked the opening of the Dubai Duty Free-owned Jumeirah Creekside Hotel. The 292 room property is managed by Dubai-based Jumeirah Group, and is located on the grounds of the Aviation Club in Garhoud.