Parkson Retail Asia's Q4 loss narrows

Singapore

PARKSON Retail Asia Limited has posted a net loss of S$11.98 million for the fourth quarter ended June 30, a sharp improvement from the S$59.77 million loss a year ago.

The department store operator managed to narrow its losses in the fourth quarter as its revenue improved by 10.9 per cent to S$93.86 million on the back of stronger sales in Malaysia and Indonesia.

The period saw a sharp 70.4 per cent drop in "other expenses" to S$27.6 million. "Other expenses were higher in the comparative FY2015 periods due significantly to contingent expenses recorded in Q4 FY2015 related to the closure of a store at Landmark 72, H…