Parkson Retail Asia's Q2 profit drops 24.6% to S$10.2m

Singapore

DEPARTMENT store operator Parkson Retail Asia reported a 24.6 per cent year-on-year slide in net profit to S$10.2 million for the second quarter ended Dec 31, 2014.

The bottom line was impacted by losses from new stores during their gestation period as well as closure costs from its Landmark-Keangnam store in Vietnam, among other things.