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Dubai Duty Free expects revenue to double in six years after record 2010

21-Dec-2010 11:34 AM

UAE's Dubai Duty Free stated it expects annual revenue to double to USD2.56 billion within six years, on the back of growing passenger traffic at Dubai International Airport (Gulf News/DIFN Online/Moodie Report, 21-Dec-2010). Revenue is expected to reach a new record of around USD1.2 billion in 2010. Dubai Duty Free MD Colm McLoughlin expects traffic to increase by 14-15% year-on-year in 2010 to 46 million. This is expected to increase to 52 million enabling the company to maintain its status as the world's largest duty free retailer, ahead of London Heathrow Airport and Incheon International Airport. The company celebrated its 27th anniversary on 20-Dec-2010 with sales reaching AED64.2 million (USD17.8 million) on the day. The figure is 3% higher than on 20-Dec-2009 when sales reached USD17.3 million for the 24-hour period. [more]