KUALA LUMPUR: Parkson Holdings Bhd
expects its retailing operations to experience low traffic low in the third quarter ending Sept 30 due to the absence of major festivities, despite the gradual recovery in stores' footfall following the resumption of cross-province and cross-border travel in China.
“The group continues to stay focused on increasing stores' productivity and implementing cost improvements strategies, besides continuing to diversify the income sources to fully seize the opportunities, and promote long-term sustainable development of its businesses,” the retailer said in a filing with Bursa Malaysia.
Parkson posted a net profit of RM19.3mil in the second quarter ended June 30 (2Q23) from a net loss of RM31.1mil in the same corresponding quarter last year.
It said the uptick in consumer spending in Malaysia during the Muslim celebrations in April 2023 and the rental income contribution from an investment property in China, have partially alleviated the generally softer consumer sentiments across the group's retailing regions.
Compared with the strong consumer spending during the Chinese New Year festivities in the immediate preceding quarter (1Q23), the group reported a marginally lower revenue of RM832mil in 2Q23.
During the quarter, posted earnings per share of 1.68 sen against a loss per share of 0.76 sen.
In the first half to June 30, Parkson posted a net profit of RM20.7mil on revenue of RM837.8mil.
