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24-Dec-2009 12:19 PM

InterBaires on target to achieve 2009 sales forecast

Argentina’s InterBaires, duty free and travel retail operator, stated it is on target to achieve its revised sales revenue of USD180 million this year, adding it will go ahead with plans to buy back a 20% shareholding in the company from the Ministry of Defence (Trend, 23-Dec-2009).

InterBaires: “We are quite pleased given the disruptions caused midway through the year with passenger numbers falling as a result of the H1N1 virus. The macroeconomic situation in the region is stable with Brazil looking to grow its GDP in the 4th quarter. Brazilian travellers are very important for the health of the travel retail business in Latin America and we are optimistic that 2010 will be a very good year for everyone involved in the business,” Martin Leal, CEO. Source: Trend, 23-Dec-2009.

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