
The Motley Fool Singapore
2019-01-10 10:01:55
Why Duty Free International Ltd’s Share Price Has Jumped 7% Today
Duty Free International Ltd (SGX: 5SO) is the largest multi-channel duty-free and duty paid retailing group in Malaysia. Through its ZON brand of retail shops, the company serves customers across all major entry and exit points in Peninsular Malaysia.
At the time of writing, Duty Free International shares are up 6.8% to S$0.205. What could be the reason behind the share price jump?
Financial results
The most probable reason behind the euphoria is Duty Free International’s solid financial results for the third quarter ended 30 November 2018, which was released after the stock market closed yesterday.
Revenue for the reporting period climbed 19.3% to RM157.0 million from RM131.6 million a year ago. The higher sales was primarily due to an increase in demand for certain products and better