Parkson Holdings Bhd. said its normalized net income for the fiscal fourth quarter ended June 30 amounted to 5.5 million ringgits, a decline of 88.9% from 49.3 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 fell to negative 0.4% from 5.5% in the year-earlier period.

Total revenue climbed 5.9% year over year to 958.7 million ringgits from 904.9 million ringgits, and total operating expenses rose 8.4% on an annual basis to 1.02 billion ringgits from 936.8 million ringgits.

Reported net income came to a loss of 102.0 million ringgits, or a loss of 10 sen per share, compared to a loss of 87.2 million ringgits, or a loss of 8 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 3 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3 sen.

EPS was 17 sen in the prior year.

Normalized net income was a loss of 36.3 million ringgits, compared with income of 182.1 million ringgits in the prior year.

Full-year total revenue increased on an annual basis to 4.19 billion ringgits from 4.04 billion ringgits, and total operating expenses increased 11.4% year over year to 4.31 billion ringgits from 3.87 billion ringgits.

The company said reported net income came to a loss of 95.7 million ringgits, or a loss of 9 sen per share, in the full year, compared with income of 46.6 million ringgits, or 4 sen per share, the prior year.

As of Oct. 31, US$1 was equivalent to 4.20 ringgits.