- 2Q2020 revenue increased to RM114.71 million, bolstered by higher contribution from its newly acquired Brand Connect Group
- Prudent capital management, healthy cash position
- Declares interim dividend of S$0.005 per share
Duty Free International Limited (SGX: 5SO) (“DFI”, the “Company”, or collectively with its subsidiaries, the “Group”), the largest multi-channel duty free and duty paid retail group in Malaysia with strategic locations across Peninsular Malaysia, today announced its financial results for its second quarter (“2Q2020”) and half year (“1H2020”) ended 31 August 2019.
During the quarter, the group declared an interim dividend of S$0.005 per share. In addition to dividends return, DFI returned value to shareholders through numerous share buybacks over the last few years. During 2Q2020, DFI purchased another 3.3 million shares, showing confidence in the company’s progress and development.
With the present economic condition and variation in foreign currencies, especially the Ringgit Malaysia against the US Dollar coupled with the competitive business environment, the Group’s business performance is anticipated to remain challenging for the following 12 months. The Group will continue its efforts to enhance the range of its products and quality services, together with close monitoring of the key cost drivers. Additionally, the Group will also continue to strengthen its operational efficiency and tighten its cost control measures to remain competitive and profitable.