Duty Free International has reported earnings of RM53.6 million for the FY2025 ended Feb 28, 2025, a 100% y-o-y increase. For the 4QFY2024, the group reported a 100% y-o-y increase in earnings to RM15.1 million.
Earnings per share for the full year came in at 4.47 sens, up from the 1.17 sens reported in the previous year.
The group's revenue for FY2025 dropped 1.4% y-o-y to RM155.1 million, over the RM157.3 million recorded in FY2024.
Profit before income tax increased to RM57.5 million for FY2025. The group says that profit growth was primarily due to compensation received from the Ministry of Home Affairs of Malaysia for the compulsory land acquisition of two land lots owned by Duty Free International 's two subsidiaries.
This was partially offset by lower revenue recorded, higher net foreign exchange loss of RM11.8 million and higher employee benefits expenses due to terminations in employment following the permanent closure of Duty-Free complex at Bukit Kayu Hitam.
The group says that its core operations comprising the trading of duty free & duty paid goods and non-dutiable merchandise, continued to be profitable.
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For FY2025, the group reported an operating profit of RM11.1 million, compared to RM14.2 million in the corresponding period of FY2024, before accounting for items related to the compulsory land acquisition at Bukit Kayu Hitam.
The group has declared and distributed total dividends of RM25.7 million or 0.65 cents per ordinary share for FY2025.
Duty Free International anticipates that the retail business environment in which it operates will continue to be challenging, largely due to the increasing product and operating costs, compounded by inflationary pressures and cautious consumer spending.
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The permanent closure of the Bukit Kayu Hitam outlet in November 2024, following the compulsory land acquisition, is also anticipated to adversely affect the group's revenue and profitability in the next financial year.
Shares in Duty Free International closed 0.3 cents lower or 4.615% down at 6.2 cents on Apr 23.
