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Parkson Holdings fiscal Q1 profit falls YOY

Parkson Holdings Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 2 Malaysian sen per share, a decrease of 37.3% from 3 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.6 million ringgits, a decrease of 38.1% from 35.0 million ringgits in the year-earlier period.

The normalized profit margin dropped to 2.4% from 3.9% in the year-earlier period.

Total revenue came to 911.1 million ringgits, compared with 907.3 million ringgits in the year-earlier period, and total operating expenses climbed year over year to 868.8 million ringgits from 833.4 million ringgits.

Reported net income declined 34.2% year over year to 20.2 million ringgits, or 2 sen per share, from 30.8 million ringgits, or 3 sen per share.

As of Nov. 24, US$1 was equivalent to 3.35 ringgits.