Shares in airport duty free, catering and retail companies were up across the board on Monday, led by a 6.5% increase in gategroup shares. Last week, the company reported a 2010 net profit of CHF50.7 million, up 35.6% year-on-year and expressed cautious optimism about its outlook for 2011.
gategroup announced a revenue target for 2011 of approximately CHF3.0 billion, up from CHF2.7 billion last year. EBITDA margin is targetted at 8-8.5%, roughly the same as 2010.
Also up strongly was Korean retail specialist, Lotte Shopping Co, and the consolidated beverages and spirits company LVMH.
Selected Duty Free daily share price movements (% change): 21-Mar-2011
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.