International shopping firm Global Blue has reported revenue growth of €424 million (£340 million) in its full year results.
In the fiscal year from April 1st 2011 to March 31st 2012, the company‘s turnover increased by 30 per cent, while EBITDA rose 44 per cent to €97 million.
Over the course of the year, 20.1 million tax free shopping transactions were made, up 24 per cent on 2010, while total transactions rose by 23 per cent to over 27 million for the period.
Such strong growth has been attributed to the increasing number of global shoppers as the company noted that Middle Eastern and Chinese shoppers represent 26 per cent and 18 per cent respectively of tax free spend from non-EU shoppers.
Middle Eastern consumers spent an average of £731 per transaction while the Chinese spent £706 on average. The average non-EU shopper spent over the course of a UK trip was £570.
Over the period, Global Blue was twice awarded ‘Best Travel Organisation‘ by Chinese travel media and launched the Globe Shopper City Index which reports on the attractiveness of European cities for global shoppers.
“Global Blue continues to make strong progress towards its goal of becoming a single reference point for globe shoppers,” explained Per Setterberg, President and CEO of Global Blue.
“In 2011 the number of international shoppers increased across all major countries, including many emerging markets, such as China, Russia and Indonesia.
“We will continue to invest in products and services that make travellers‘ shopping experience more enjoyable and help our merchants better meet the needs of globe shoppers, the world‘s most valuable customers.”
