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Fri 7 Oct 2011 10:10 AM

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Dubai Duty Free sales top $1bn to end-Sept

Nine-month performance sees perfumes as company's top seller with $150m revenues

Dubai Duty Free sales top $1bn to end-Sept
Dubai Duty Free
Dubai Duty Free sales top $1bn to end-Sept
Dubai International Airport

Sales at Dubai Duty Free reached AED3.78bn ($1.036bn) to the end of September, representing a 16.4 percent increase over the same period in 2010.

The nine-month performance put the retail operation at Dubai International Airport on track for year-end sales of an estimated $1.45bn, the company said in a statement.

Perfumes retained the number one category as sales rose to $150m, while sales of gold rose by 24 percent to reach $118m in the nine month period.

Other notable increases were seen in electronics, which rose by 21 percent to $81m, cosmetics which rose by 22 percent with sales of $63m and confectionery rose by nine percent to $78m.

Colm McLoughlin, Dubai Duty Free's executive vice chairman, said: "We have had a fantastic year so far and I am pleased that our penetration level and average spend has been consistently high.

"We are heading into a busy sales period for the last quarter and are optimistic that we will have a record year."

Last month, McLoughlin said Dubai Duty Free expects annual sales to more than double in the next decade, reaching up to $3.3bn by the end of 2020.

DDF said in August it would part-finance the building of a fourth concourse at Dubai International Airport, in its first large-scale infrastructure investment.

The state-owned retailer said the investment would be funded by cashflow, but did not specify the value of the outlay.

Dubai in July said it would spend $7.8bn on expanding its airports as it seeks to turn Dubai International into the world’s busiest airfield. The airport plans to complete Concourse 3, meant for the use of Emirates’ Airbus A380 planes, by 2012 and to build Concourse 4 by 2015.

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