By Kim Richters
Dufry AG on Tuesday reported a plunge in revenue and a significantly widened net loss for 2020 as the travel retailer was hit by disruptions related to the coronavirus pandemic.
The Swiss company said net loss for the year was 2.51 billion Swiss francs ($2.68 billion) compared with the prior-year loss of CHF26.5 million.
Impairments booked for the year came in at CHF1.19 billion as a consequence of the pandemic, it said.
Revenue fell to CHF2.56 billion from CHF8.85 billion.
The company said it wants to keep the dividend for 2020 suspended.
Dufry said it was gradually opening its retail business again and expects business to improve in 2021. It expects to operate around 60% of its shops at the end of the March.
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