22-Mar-2011 2:48 PM
Stronger day for duty free and retail shares
Analysis
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.
Summary
- Shares in airport duty free, catering, and retail companies experienced a significant increase on Monday.
- gategroup, a leading company in the industry, reported a 35.6% year-on-year increase in net profit for 2010 and expressed cautious optimism for 2011.
- gategroup set a revenue target of approximately CHF3.0 billion for 2011, up from CHF2.7 billion in the previous year.
- Lotte Shopping Co, a Korean retail specialist, and LVMH, a consolidated beverages and spirits company, also saw strong increases in their share prices.
- The daily share price movements of selected Duty Free companies were closely monitored on 21-Mar-2011.
- The overall trend in the industry suggests positive growth and investor confidence.
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
