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Parkson Retail Asia fiscal Q2 profit falls YOY

Parkson Retail Asia Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 1 Singapore cents per share, a decline of 20.7% from 2 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$9.3 million, a decline of 20.7% from S$11.7 million in the prior-year period.

The normalized profit margin declined to 9.4% from 9.8% in the year-earlier period.

Total revenue climbed year over year to S$122.6 million from S$120.4 million, and total operating expenses increased 6.5% from the prior-year period to S$109.4 million from S$102.6 million.

Reported net income decreased 24.6% on an annual basis to S$10.2 million, or 2 cents per share, from S$13.6 million, or 2 cents per share.

As of Feb. 9, US$1 was equivalent to S$1.35.