Yesterday (October 26), China Tourism Group Duty Free Corporation Limited (referred to as “China Duty Free”) released its financial report for the third quarter.
In the first three quarters of 2023, China Duty Free achieved operating revenue of 50.837 billion yuan ($6.95 billion), a year-on-year increase of 29.14%, and a net profit attributable to shareholders of listed companies of 5.206 billion yuan ($711.6 million), a year-on-year increase of 12.49%.
Specifically, in the third quarter, the company achieved operating revenue of 14.979 billion yuan ($2.05 billion), a year-on-year increase of 27.87%, and a net profit attributable to shareholders of listed companies of 1.341 billion yuan ($183.3 million), a year-on-year increase of 94.22%. The net profit attributable to shareholders of listed companies, excluding non-recurring gains and losses, reached 1.337 billion yuan ($182.7 million), an increase of 103.90% year-on-year.
China Duty Free stated that during the reporting period, the company focused on its established development strategy, continuously optimized its product structure and business layout, strengthened cost and expense control, and achieved steady growth in performance. Furthermore, the company emphasized sustainability and pursued balanced growth in both scale and profitability. In the first three quarters of 2023, the company’s main business gross profit margins continued to recover, reaching 28.75%, 32.47%, and 34.27% respectively.