Dubai Duty Free Records 10% Increase in Sales Activities in Q1 2014
Dubai’s Airport Terminal 3 contributes 62% of the overall sales
Sales figures and tabulations for the first quarter of sales activities for 2014 have been released by all leading corporates and companies. Dubai Duty Free has posted its first quarter sales results which have been extremely good, promising naught but more improvements and positives as the financial year progresses.
According to the company’s sales report, there has been an unmistakable increasing of 10% in sales activities as compared to its previous year’s sales figures for the same quarterly period, in 2013. In terms of core valuation, the sales figure for the first quarter for 2014 has been around US$ 479.5 million or about 1.75 billion dirham which is quite a positively staggering figure.
Other important points of the Dubai Duty Free sales report can be summarised as:
- Overall increase in sales in all of the three Dubai terminals in the first quarter with terminal three posting the biggest chunk in the cumulative sales volume of about 62%
- About 23% increase in the sales in terminal two and about 11% increase in the sales in terminal three
- Most sales recorded for perfumes, hard drinks and gold in that order
- Overall increase in the sale of perfume of about 16% from previous year’s sale in the same time-span. Monetarily, the sale of perfumes accounted for about 2.8 billion dirham in the first quarter
- Cosmetic products and leather-based products were the other important gainers in the sales activities in the first quarter with increase of about 30% and 62% respectively
Summing up this very significant growth, the executive vice chairperson of Dubai Duty Free, Mr. Colm McLoughlin expresses, “The expansion and upgrade of Terminal 2 late last year has provided us with an opportunity to extend our product range and boost sales in T2, which accounts for 8.3 percent of our total revenue and is growing. The last phase of that development will be opening of a new Arrivals shop in T2 which will help grow sales further.”
In context with the emphasis placed on the further rejuvenation of the overall economic boosting of the region, these figures and percentages are quite significant denominators which proclaim with credibility that Dubai is once again back on track as far its trade activities are concerned. Also, these figures are also seen by the company towards fulfilling its proposed commitments of the construction of Concourse D in 2015 and attaining the most specific objective of posting sales numbers touching seven billion dirham.