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Duty Free posts 20.7% fall in 1Q earnings to $2.4 mil despite higher revenue

Uma Devi
Uma Devi7/11/2019 06:24 PM GMT+08  • 2 min read
Duty Free posts 20.7% fall in 1Q earnings to $2.4 mil despite higher revenue
SINGAPORE (July 11): Duty Free International (DFI) saw its earnings fall 20.7% to RM7.2 million ($2.4 million) for the 1Q20 ended May, compared to earnings of RM9.0 million in the corresponding quarter last year.
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SINGAPORE (July 11): Duty Free International (DFI) saw its earnings fall 20.7% to RM7.2 million ($2.4 million) for the 1Q20 ended May, compared to earnings of RM9.0 million in the corresponding quarter last year.

Earnings per share (EPS) fell to 0.60 sen for 1Q20, compared to 0.74 sen in 1Q19.

The decline was led by a surge in losses from change in inventories, which comprises the difference in the value of inventories at the beginning and at the end of the financial period reported on.

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