News Snapshot:
CHINA. China Tourism Group Duty Free Corporation Limited (China Tourism Group), the parent company of China Duty Free Group (CDFG) this week posted a -22.17% year-on-year decrease in first-half revenues to RMB27.651 billion (US$4.1 billion). The decline was driven by the impact of the various COVID-19 outbreaks across Mainland China during the reporting period. Net profit attributable to shareholders declined -26.49% to RMB 3.938 billion (US$582 million). China Tourism Group said, “Sporadic COVID-19 outbreaks were seen across China during this reporting period, leading to significant reduction in customer traffic and disruption to store operations and logistics. Business was under great...
