Parkson Retail Asia earnings up 5.5% on pre-GST spending spree in Malaysia

SINGAPORE - Third quarter earnings for department store operator Parkson Retail Asia rose 5.5 per cent to $8 million.

This was on the back of earnings from same-store sales growth in Malaysia, which was boosted by increased pre-goods and services tax buying.

Revenue was up 9.2 per cent to $116.6 million for the three months to March 31.

Earnings per share was 1.18 cents for the quarter, up from 1.12 cents a year back.

Net asset value was 32 cents at March 31, down from 35 cents as at June 30.

Parkson shares closed down 0.5 cent at 53 cents on Wednesday.