Malaysia is gradually rolling back Covid-19 related curbs as it seeks to strike a balance between sustaining economic growth and reining in daily infections. The easing of movement restrictions is certainly a reprieve for the fashion retail sector which reported a 37.9% drop in sales in 2020. As a mass market fashion retailer, Padini Holdings Bhd (“Padini”) (KLSE:PADINI) is hopefully of a positive recovery. Here are 5 highlights from the group’s latest earnings. Rebound in quarterly revenue and profits Quarterly revenue expanded 20.5% to RM209.84 million in 4Q2021 from RM174.2 million in 4Q2020. Meanwhile, quarterly net profit surged by 170.3% to RM10.49 million from a quarterly net loss of RM16.84 million a year ago. The improved performance is due to the comparative difference in closure periods. Padini said its outlets were only closed from June 1 till June 30, 2021 with the implementation of the full movement control order...
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