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Parkson Retail Asia fiscal Q3 profit climbs 6.8% YOY

Parkson Retail Asia Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 1 Singapore cents per share, an increase of 6.8% from 1 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$7.8 million, a gain of 6.8% from S$7.3 million in the year-earlier period.

The normalized profit margin climbed to 6.7% from 6.6% in the year-earlier period.

Total revenue increased 9.3% on an annual basis to S$120.6 million from S$110.3 million, and total operating expenses climbed 9.2% on an annual basis to S$108.3 million from S$99.2 million.

Reported net income grew 5.5% on an annual basis to S$8.0 million, or 1 cents per share, from S$7.6 million, or 1 cents per share.

As of May 13, US$1 was equivalent to S$1.33.