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Parkson Retail Asia returns to profitability in full year after one-off gain on disposal

PC Lee
PC Lee8/18/2016 06:32 PM GMT+08  • 2 min read
Parkson Retail Asia returns to profitability in full year after one-off gain on disposal
SINGAPORE (Aug 18): Parkson Retail Asia, the operator of departmental stores across the region, swung back into the black after registering earnings of $33.1 million for the fiscal year ended June from a loss of $34.7 million a year ago on higher income.
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SINGAPORE (Aug 18): Parkson Retail Asia, the operator of departmental stores across the region, swung back into the black after registering earnings of $33.1 million for the fiscal year ended June from a loss of $34.7 million a year ago on higher income.

Other income for the year increased to $56.1 million due to the gain on partial disposal of its stake in subsidiary Parkson Hanoi Co. (PHCL) for $45.6 million. Following the disposal, PHCL is now an associate company.

On same store basis, PBT for the Malaysia operations for the year declined by 28.9% to $23.8 million while PBT for its Indonesian and Myanmar operations ended in losses of $3.2 million and $1.7 million respectively.

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