KUALA LUMPUR (May 23): Padini Holdings Bhd has posted a 14.3% increase in net profit to RM39.78 million for the third financial quarter ended March 31, 2018 (3QFY18) from RM34.82 million in the corresponding quarter a year ago, on higher revenue.

Earnings per share for the quarter rose to 6.05 sen from 5.29 sen in 3QFY17.

Padini's revenue for the period was 13.8% higher at RM425.27 million compared to RM373.74 million in 3QFY17.

In a bourse filing, Padini attributed the better revenue mainly to its expansion of outlets. During the course of its first fiscal nine months, the company opened six new Padini Concept stores and six Brands Outlet stores.

For the cumulative nine months, the company's net profit registered a marginal increase of 2.6% to RM120.97 million from RM117.91 million in the same period last year. Meanwhile, revenue grew 8.1% to RM1.2 billion from RM1.11 billion previously.

Padini said it is confident it will be profitable despite the challenging economic environment amid rising costs.

"The management will continue to be vigilant to the changes in the external environment and take necessary actions, including reviewing our cost structure in order to maintain long-term sustainable growth," it added.

Padini closed unchanged today at RM5.35 for a market capitalisation of RM3.53 billion.