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CHINA. China Tourism Group Duty Free Corporation (CTG), parent company of China Duty Free Group – the world’s largest travel retailer by sales* – this week posted a slight +0.25% year-on-year increase in Q1 net profits to RMB2.306 billion (US$318,231,459).
Gross profit margin reached 33.31%, an encouraging increase of 4.31 percentage points year-on-year.
However, operating income fell -9.45% year-on-year to RMB18.807 billion (US$2.6 billion).
Basic earnings per share reached RMB1.1148, up +0.24% over the same period in 2023.
“The company…