Lagardere Services travel retail revenue up 8% in 1H2012

France's Lagardere Services announced (03-Sep-2012) its travel retail unit reported an 8% year-on-year increase in revenue to EUR1100 million in the first six months of 2012. Details include:

• Europe: In France, the group reported a 23% increase duty free and luxury sales due to the acquisition of outlets at Paris airports, the modernisation of retail outlets and commercial initiatives at French airports. In Germany, retail sales increased 10% due to the opening of six new airport outlets. Business in Poland increased 19% while sales in Czech Republic increased 34%, Romania and Bulgaria increased 20% and Spain increased 10%;
• Asia Pacific: Despite being affected by a very high Australian dollar and declining book sales, business activity in the Pacific region increased by 4.5%, due to the effect of modernising the shops at La Tontouta Airport - New Caledonia (+40%) and the revenue generated by the New Zealand retail outlets taken in the first half of 2011;
• North America: Retail trade in the region increased by 2%. [more - original PR]

Lagardere Services: "Our ambitious policy of investing in stores and our on-going efforts to recruit and train staff enable us to perform at a very high level in relation to our environment. This trend is expected to accelerate further in the coming months, thanks to our latest developments, notably in Rome as of October and in Xi'an in China," Dag Rasmussen, CEO. Source: Company statement, 03-Sep-2012.