You are here

Parkson Retail Asia's Q1 profit bolstered by partial disposal of former subsidiary

DEPARTMENT store operator Parkson Retail Asia reported a surge in net profit to S$49.5 million for Q1FY16, up from S$6.86 million, lifted by a S$46 million gain on partial disposal of a stake in a former subsidiary, Parkson Hanoi Co.

Revenue for the first quarter ended Sept 30 fell 15.7 per cent year on year to S$92.69 million in line with lower gross sales proceeds.

Earnings per share came to 7.3 Singapore cents, up from 1.01 cents previously.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes