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Parkson Holdings fiscal Q3 profit climbs 37.8% YOY

Parkson Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 6 Malaysian sen per share, an increase of 40.2% from 4 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 62.4 million ringgits, a gain of 37.8% from 45.3 million ringgits in the year-earlier period.

The normalized profit margin rose to 5.4% from 4.4% in the year-earlier period.

Total revenue increased 11.9% on an annual basis to 1.15 billion ringgits from 1.03 billion ringgits, and total operating expenses increased 17.8% from the prior-year period to 1.06 billion ringgits from 900.0 million ringgits.

Reported net income declined 94.6% from the prior-year period to 3.0 million ringgits, or 0 sen per share, from 55.0 million ringgits, or 5 sen per share.

As of May 27, US$1 was equivalent to 3.65 ringgits.