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Parkson Holdings fiscal Q2 profit falls YOY

Parkson Holdings Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 4.6 million ringgits, a decline of 90.6% from 48.7 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 0.5% from 4.5% in the year-earlier period.

Total revenue grew year over year to 1.12 billion ringgits from 1.07 billion ringgits, and total operating expenses increased 13.4% year over year to 1.14 billion ringgits from 1.01 billion ringgits.

Reported net income totaled a loss of 31.4 million ringgits, or a loss of 3 sen per share, compared to income of 110.7 million ringgits, or 10 sen per share, in the year-earlier period.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.