Duty Free International's Q2 net profit shrinks 65% to $2.9 million

Duty Free International has reported a 65.4 per cent drop in second quarter net profit to RM7.5 million (S$2.9 million).

Revenue for the three months to Aug 31 dipped 1.3 per cent to RM130.3 million.

The decrease was mainly due to the decrease in revenue from trading of duty free goods and non-dutiable merchandise.

Earnings per share shrank to 0.745 sen from 1.73 sen previously while net asset value per share grew to 36.72 sen compared to 30.88 sen as at Feb 28.