Earnings per share for its continuing operations stands at S$0.0086, down from S$0.0116 previously
DEPARTMENT store operator Parkson Retail Asia posted net profit of S$5.8 million for the fourth quarter ended Dec 31, down 26.3 per cent from S$7.8 million the year before. The figure excludes its discontinued operations.
Revenue for the quarter went up by 1.4 per cent to S$58.5 million, from S$57.6 million in the previous corresponding period.
Earnings per share for its continuing operations stood at S$0.0086, down from S$0.0116 previously.
No dividend was declared for the quarter, as the company are in a position of net current liabilities and accumulated losses.
The group has two operating segments – namely, the operation and management of its retail stores and its investment holdings.
In a bourse filing on Tuesday (Feb 18), the group said that its retail operations generated higher sales during festive and holiday seasons.
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Its retail stores in Malaysia, where it has continuing operations, turned in revenue of S$57.7 million for Q4, marginally higher than S$57 million a year ago. The company exited the Vietnam market in 2023.
Revenue from its investment holdings stood at S$743,000 for the quarter, down from S$595,000 from the corresponding period a year ago.
The group said that inflationary pressures and rising costs of living have affected consumers’ spending power, posing a challenge to the group in FY2025.
It added that it will continue to enhance store productivity and manage costs, while exploring expansion opportunities.
Shares of Parkson Retail Asia ended flat on Tuesday at S$0.073.
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