Parkson Retail Asia narrows net loss to S$12 million

SINGAPORE -South-east Asian department store operator Parkson Retail Asia narrowed its fourth quarter net loss by 80 per cent, owing to the absence of a store closure a year ago.

Parkson, which does not have stores in Singapore, reported that net loss for the three months to June 30 was S$12 million.

Revenue was up 10.9 per cent to S$93.9 million, compared with the same period a year earlier, it added on Thursday.

For the 12 months to June 30, Parkson posted reversed a net loss of S$34.7 million to a net profit of S$33 million, while while revenue dipped 9.4 per cent to S$388.4 million from the year earlier.