Dufry AG : Q2 reassuringly in line but continued pressure on margins - Buy, target price adjusted to CHF 132
>Q2 results in line with forecasts - Dufry has reported Q2 earnings that are broadly in line with forecasts. Organic growth at group level accelerated as expected to 2.3% over the quarter (vs +2.0% in Q1 and +1.8% in Q4) due to the improvement in air traffic, notably in Asia and Europe. These figures are reassuring but the pace of the acceleration remains too weak for hopes of a return to reliable organic growth and, above all, the achievement of the group’s medium-te...Dufry is a travel retail company. Co. operates over 1,650 shops worldwide. Co.'s shops are either duty free or duty paid shops, located in airports. Co.'s product categories include: Perfumes and Cosmetics; Confectionery, Food and Catering; Wine and Spirits; Watches, Jewelry and Accessories; Tobacco goods; Fashion, Leather and Baggage; Literature and Publications; Electronics; and Toys, Souvenirs and other goods.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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