Published on : Wednesday, September 1, 2021
China Tourism Group Duty Free (CTGDF), which on 2020 turned out to be the largest travel retailer in the world, posted an 84 percent year-on-year rise in first-half revenues to 35.53 billion yuan ($5.5 billion), per The Moodie Davitt Report.
China Duty Free Group’s store in Haitang Bay, Sanya, and generated 70.6 percent where sales grew by 210 percent on an annual basis to 18.53 billion.
Second quarter revenues increased 49 percent on the year, to 17.93 billion ($2.6 billion). Earnings before interest and taxes (EBIT) rose by 592 percent, compared to the same period to 8.45 billion yuan ($1.3 billion).
Third quarter results are probably to be affected by the Covid-19 Delta variant outbreak of China, which started in late July and interrupted the plans for summer holiday for domestic travelers.