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China Duty Free Group sees revenue decline

China Duty Free Group released its 2024 semi-annual report on August 30, posting revenue of 31.265 billion RMB ($4.32 billion), down 12.81% YoY. Net profit was 3.283 billion RMB ($450 million), a 15.07% decrease, with earnings per share at 1.5868 RMB ($0.22). The company’s revenue from goods sales was 31.136 billion RMB ($4.31 billion), with a gross margin of 32.94%. The report notes the introduction of about 50 new brands in Hainan and membership exceeding 35 million.

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