Padini posts Q3 pre-tax profit of RM31.9m

Padini Holdings Bhd posted a pre-tax profit of RM31.928 million in the
third quarter ended March 31, 2012, down four per cent from RM33.354
million recorded in the same period in 2011.

It was primarily
due to an eight per cent decline in gross margins earned during the
quarter reviewed, it said to Bursa Malaysia today.

The
company's revenue however rose by 19 per cent to RM176.006 million from
RM147.960 million mainly due to a net increase of about 9,104 sq m in
gross floor area under retail.

The prospects for the Group to
continue improving on its performance remain excellent, especially for
the new 2013 financial year commencing on July 1, 2012, the statement
said.

"This is based on the fact that for the current
financial year that will end on June 30, 2012, the Padini Group will
have added another 12,077 sq m to its overall gross floor area under
retail.

"This increase primarily comprises the addition of four Padini Concept Stores and six Brand Outlet Stores," it said.

This
expansion in retail stores will further strengthen the market presence
of the Group's brands and provide further opportunities for revenue
growth, it added. -- Bernama

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