China Tourism Group Duty Free posts profit dip, plans dividend

China Tourism Group Duty Free Co., Ltd. (CTGDF), the world’s largest travel retailer, announced a 16.38% year-over-year decrease in operating revenue to 564.74 billion yuan for 2024, alongside a net profit attributable to shareholders of 42.67 billion yuan, a 36.44% decrease from the previous year. Despite the profit dip, the board has proposed a cash dividend of 1.05 yuan per share, totaling 2.17 billion yuan, representing 50.91% of the year’s net profit. This distribution is subject to shareholder approval.