Business

Parkson’s Q1 pre-tax profit drops to RM149.4m

KUALA LUMPUR, Nov 28 – Parkson Holdings Bhd’s pre-tax profit for the first quarter ended Sept 30, 2012 decreased to RM149.394 million compared with RM210.264 million seen in the same period last year.

Revenue, however, rose to RM836.939 million from RM791.631 million.

In a filing to Bursa Malaysia, the retail group said the lower profit was mainly due to weaker consumption sentiment for its China retail operation, while the higher revenue came from its retail operations in Malaysia and Indonesia, which saw stronger consumer spending during the Muslim festive season.

“Our performance for the next quarter is anticipated to be better as the coming year-end festive and holiday seasons will help boost the flagging consumer spending sentiments,” it added. – Bernama

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