Parkson reports RM803m pre-tax profit

Parkson Holdings Bhd's pre-tax profit rose to RM803.12 million in the financial year ended June 2011 from RM704.17 million last year.

Its revenue also increased to RM2.93 billion from RM2.72 billion previously, while gross sales proceeds for the group rose to RM9.49 billion.

In a filing to Bursa Malaysia today, Parkson attributed the positive performance mainly to the healthy store sales growth across all three markets in Malaysia, China and Vietnam.

The improved performance also took into account the appreciation of the ringgit against the Chinese Renminbi and the Vietnamese Dong, which resulted in the lower foreign operating costs being consolidated into the group.

For the fourth quarter ended June 2011, Parkson's pre-tax profit and revenue rose to RM183.51 million and RM711.24 million respectively from RM151.94 and RM617.18 million in the same period last year.

Amid the current global economic uncertainties, Parkson expects to remain competitive by continuing to reinvent and remodel its existing stores and make the necessary adjustments to its merchandise and brand mix.

Leveraging on the group's strong balance sheet, favourable business model, strong brand equity and huge customer base from the customer loyalty programme, Parkson said it was also well-positioned to face the challenges and maintain its leadership position in the regional retail sector. -- Bernama