Parkson retail Asia has announced a Q4 NP of only 3 mio
See results
Reasons for poor performance.
1) Currency weakness of Indonesia and for most part of the year, the Ringgit
2) 7 new stores open, including pre-opening expenses, which should be one-off.
However, the reopening of the three stores in Malaysia did not improve both topline or bottom line as I would expect.
It is still a cash generating business, and profitable one.
However, if we extrapolate this quarter earnings, FY earning will only be 12 mio, Eps will only be about 2 cents.
2015 Q1 is the quarter with no opening of new stores, and ringgit and rupiah would have be from the same low base for comparison (Provided it don't fall further), we would be able to tell if the new loss making stores are still bleeding profusely. Given the same stores sales are actually improving(With ......