Parkson's Q2 profit slides to RM338m

Parkson Holdings Bhd's pre-tax profit for the second quarter ended December 31, 2012 dwindled to RM338.40 million from RM450.30 million in the same period last year.

Revenue, however, rose to RM1.767 million from RM1.702 million.

The retail group said the higher revenue came from new stores' contribution and same store sales growth in Malaysia and Indonesia.

The group's performance is expected to remain satisfactory in view of the Lunar New Year festive occasion.

"Our retailing operations across China, Malaysia and Vietnam are expected to benefit from the surge in consumer spending during the Chinese New Year festivities," the company said in a filing to Bursa Malaysia.-- Bernama